U.S. President Donald Trump recently retweeted an article on the social media platform Truth Social, endorsing his view that his official Memecoin (TRUMP) is a measure of public political sentiment, according to Golden Finance. The current price of the token is around $10, down 85% from its all-time high of $73 set in January, the data showed. On-chain data shows that only 26.48% of TRUMP tokens are currently in circulation, and the remaining 735 million (73.52%) have not yet been unlocked. At current prices, the 50 million tokens that will be unlocked on July 18 are worth about $520 million, which could put further pressure on the market price. On June 7, Trump's son, Eric Trump, announced that his crypto firm planned to acquire "a large amount" of the token, but the market reaction was muted. Industry sources pointed out that the short-term price volatility of Memecoin is driven by speculation, but the long-term trend may reflect the public's expectations of Trump's political prospects.
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The official token TRUMP of Trump has fallen 85% from its high point, and future unlocks may pressure the coin price.
U.S. President Donald Trump recently retweeted an article on the social media platform Truth Social, endorsing his view that his official Memecoin (TRUMP) is a measure of public political sentiment, according to Golden Finance. The current price of the token is around $10, down 85% from its all-time high of $73 set in January, the data showed. On-chain data shows that only 26.48% of TRUMP tokens are currently in circulation, and the remaining 735 million (73.52%) have not yet been unlocked. At current prices, the 50 million tokens that will be unlocked on July 18 are worth about $520 million, which could put further pressure on the market price. On June 7, Trump's son, Eric Trump, announced that his crypto firm planned to acquire "a large amount" of the token, but the market reaction was muted. Industry sources pointed out that the short-term price volatility of Memecoin is driven by speculation, but the long-term trend may reflect the public's expectations of Trump's political prospects.