BlockBeats news, on April 12th, according to CoinDesk, Trump's meme coin TRUMP will receive large-scale token unlocking next week, with 40 million tokens unlocked on April 18th. The project team will receive tokens worth $320 million, accounting for about 20% of the circulating supply. If the unlocked token is sold to the public market, the supply to liquidity ratio will be severely imbalanced, which may further pressure the price. Since its launch on January 18th, the recent price of TRUMP token has reached $7.14, with a current price of $8, and its value has shrunk by 83%.
According to Dune data, the number of TRUMP token holders has decreased from 817000 at the time of its initial launch to 637000. Currently, only 12000 wallets hold over $1000 worth of TRUMP tokens, a significant decrease from 143000 on January 19th. Token unlocking is usually a bearish event, but sometimes the market digests expectations in advance, causing the price to fall to a new low before unlocking and slightly rebound after unlocking. It is still uncertain whether the Trump team will sell the unlocked tokens, but if sold in the open market, it will put short-term pressure on prices. The 2% market depth indicator shows that the current liquidity level of $980000 to $2 million cannot withstand the selling pressure of $320 million.
The meme coin craze is gradually dissipating, and the total market value of meme tokens has plummeted from $119 billion in December last year to the current $45 billion.
