Trump Endorsement Boosts TRUMP Token 10% Amid Unlocking Concerns
1min read The TRUMP token, a Solana-based memecoin linked to former US President Donald Trump, experienced a significant surge in trading volume following a shoutout from Trump himself. This surge, however, did not translate into sustained investor enthusiasm, as the token's price has since declined from its peak.
On March 23, Trump posted about the token on TruthSocial, stating, “I LOVE TRUMP — SO COOL!!! The Greatest of them all!!!!!!!!!!!!!!!!.” This endorsement drove the token’s price up by 10%, with it trading around $11.8 and daily trading volume exceeding $1 billion—double the average of previous days. Despite this price increase, the token is still down 85% from its all-time high of $77, reflecting waning investor enthusiasm.
Additionally, some investors fear that selling pressure will return in April as a large amount of TRUMP tokens are set to be unlocked. According to data, 40 million TRUMP tokens will be unlocked starting April 18. This accounts for 4% of the total supply and is valued at over $472 million. After that, at least half a million TRUMP tokens will enter circulation daily, continuing until the end of 2027. This unlocking process may intensify selling pressure and lower expectations among retail investors.
Last month, the TRUMP meme coin celebrated its one-month anniversary with an airdrop for supporters. However, this campaign failed to stop the token’s continuous decline amid the broader meme coin market downturn since the beginning of the year. President Donald Trump launched the TRUMP token on January 17, 2025. It initially captured the crypto community’s attention, reaching a peak market capitalization of $15 billion just two days after launch.
Ask Aime: What's behind the TRUMP token's price surge and subsequent decline?
Besides the TRUMP token, Trump's wife also introduced a token named MELANIA. A report revealed that 94% of TRUMP and MELANIA tokens are controlled by just 40 wallets, highlighting a highly concentrated distribution among whales. This concentration of tokens among a few large holders could potentially influence the token's price and market dynamics, adding another layer of complexity to the token's future prospects.
In summary, while Trump's endorsement provided a temporary boost to the TRUMP token, the underlying issues of declining investor interest and the upcoming unlocking of a large number of tokens pose significant challenges. The token's future will depend on how these factors play out and whether Trump's influence can sustain investor interest in the long run. 
