Trump Memecoin Faces $520M Unlock in July as Price Drops 85%
United States President Donald Trump has indicated that his official memecoin serves as a reflection of public sentiment towards his leadership. In a recent social media post, Trump referenced a Newsmax article discussing how the cryptocurrency token tracks political momentum. However, the TRUMP token's market performance presents a contrasting narrative, having fallen 85% from its all-time high of $73 in January to around $10. A significant $520 million token unlock is set for July 18, where 50 million tokens will be released, raising concerns over potential downward price pressure if demand does not keep pace. Trump's son, Eric Trump, announced plans to acquire a substantial amount of the tokens through World Liberty Financial, but the market's muted reaction has led commentators to question investor confidence. The implications of the upcoming unlock on political enthusiasm toward Trump’s leadership remain uncertain.
Source 🔗