Official Trump (TRUMP) memecoin unlocked 40 million tokens, worth around $300 million on Friday, April 18. Around 36 million TRUMP tokens, representing 18 percent of the released supply, were allocated to creators and CIC Digital 1.
The remaining 4 million TRUMP tokens, representing around 2 per of the released supply, were allocated to creators and CIC Digital 4.
Friday’s TRUMP token release follows the January 18th 200 million unlock, worth about $1.5 billion.
As a result, TRUMP memecoin has a circulating supply of about 250 million and a maximum supply of 1 billion.
The TRUMP memecoin has gained significant popularity on the Solana network primarily due to its direct affiliation with the U.S. President Donald Trump. The mid-cap memecoin, with a fully diluted valuation of about $7.66 billion and a 24-hour average trading volume of about $278 million, has, however, been trapped in a multi-week falling trend.
The latest TRUMP token unlock will weigh down on bullish sentiment in the near future as the dilution from the early investors surges.
From a technical analysis, TRUMP’s price is well primed for a bullish rebound in the coming weeks. If Bitcoin (BTC) price leads the wider altcoin market to mirror gold price action, TRUMP price will likely rebound to form a new rising trend.
In the four-hour timeframe, TRUMP price, against the U.S. dollar, has been forming a reversal pattern characterized by a triple bottom coupled with bullish divergence of the Relative Strength Index (RSI).
A consistent close above the 50-day Moving Average (SMA) will trigger a rally toward the next liquidity range between $9 and $10.
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