TRUMP Memecoin: The $320M Unlock That’s Making Crypto Sweat 🤑

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Ah, the circus of cryptocurrency! Donald Trump’s Solana-based memecoin, TRUMP, is wobbling like a Jenga tower in a hurricane as a colossal token unlock approaches. 🎪

According to the ever-reliable Tokenomist, on April 18, the project will unleash 40 million tokens—worth a cool $320 million at current prices—into the wild. This is TRUMP’s first major unlock, and it’s set to flood the market with roughly 20% of the current circulating supply. Cue the panic. 😱

But wait, there’s more! After this grand spectacle, 493,000 TRUMP tokens (around $4 million) will be unlocked daily until the next big event in July. Investors are sweating bullets, fearing the price might nosedive faster than a politician’s approval rating. 📉

As of press time, TRUMP is trading at $8.27, down over 5% in the past day. The token is now a whopping 88% below its all-time high of $73.43, set on January 19. Trading volume, however, has spiked 23% to $476 million in the past 24 hours, as speculators scramble like ants at a picnic. 🐜

On-chain data paints a grim picture. The total number of wallet holders has dipped to 638,000, a 0.3% drop this week and a far cry from the over 800,000 holders in January. Less than 13,000 wallets hold more than $1,000 in TRUMP, meaning most users are just along for the ride—or the memes. 🚀

Technical indicators aren’t helping either. Most moving averages are below TRUMP’s current price, with the 20- and 50-day exponential moving averages signaling further declines. A weak bullish crossover in the moving average convergence/divergence hints at a possible recovery, but the relative strength index is flirting with oversold territory at 37.37. 📊

Support is hanging around $7.50, where TRUMP has previously seen some buying interest. If it breaks below this level, the price could tumble toward $6.80. On the upside, resistance is expected near $9.20 and $10.90, where longer-term moving averages lurk. 🎢

Despite Trump-affiliated retailers like GetTrumpSneakers.com accepting the memecoin, its price movement suggests investors are more interested in speculation than real-world utility. As the unlock looms, traders will be glued to their screens, watching for signs of life—or a total meltdown. 🍿

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2025-04-14 06:28