The TRUMP token, a Solana-based meme coin associated with U.S. President Donald Trump, rose 7% in the last 24 hours. This TRUMP price increase comes ahead of a scheduled token unlock event that will draw attention across the cryptocurrency market.
Despite the market’s broader weakness, the TRUMP token is showing signs of stabilization. Analysts are closely watching the token’s next moves as more supply is set to enter circulation.
Large TRUMP Token Unlock Set for April 18
The TRUMP token will unlock 40 million new tokens on April 18. These will be distributed to the project’s team members. Based on the current trading price, the value of this unlocks is around $320 million.
According to crypto analytics platform Tokenomist, this unlock will increase the circulating supply, raising it to around 240 million TRUMP. The total supply of the token is capped at 1 billion. These tokens represent over 60% of all scheduled insider unlocks for the week, totaling $519 million. Fast Token and Arbitrum will also unlock $80.6 million and $27.2 million worth of tokens, respectively.
Token unlocks can add supply without increasing demand. If many of these tokens are sold, this can cause price declines. Investors have been watching the token closely ahead of this release, especially after large losses earlier this year.
Market Sentiment and Holder Data
The TRUMP token price saw a high of $73.43 on January 19. Since then, TRUMP has fallen by nearly 89%, reaching around $8.03. Despite this drop, some technical indicators suggest buying pressure may be returning.
Data from Dune shows that the number of unique TRUMP token holders has decreased from 817,000 at launch to about 637,000. Wallets holding over $1,000 in TRUMP have dropped from 143,000 in January to only 12,000. This has been prompted by recent whale sell-offs with major losses, as reported by CoinGape.
Though interest in the token has slowed, recent price action shows a possible change. The price has moved from a low of $7.50 to $8.03, showing signs of a short-term rebound.
Technical Indicators Suggest Possible Breakout
The TRUMP token price technical analysis points to a possible upward movement. Since April 8, the token has been trading between $7.65 and $8.30. This range may act as a base before a breakout.
Chaikin Money Flow (CMF) is around -0.03, slightly below zero. A move above zero could signal growing buying activity. The Money Flow Index (MFI) is at 42.87, within a neutral range but rising steadily. This shows that the buying volume is slowly building, a precursor of a TRUMP price bullish breakout.
The chart suggests the TRUMP token price may dip to the $7.65 zone before a strong rally. If buying momentum continues, the price could break resistance at $8.30 and move toward the $9.50 level.
Analyst Charts Key Levels For TRUMP Price
According to crypto analyst CryptoBheem, the TRUMP token has been consolidating in a tight range, forming a base after weeks of decline.
As per CryptoBheem, multiple touches of the $8.30 resistance level raise the breakout chance.
If the TRUMP token price maintains upward momentum, it could push toward the $10.50–$11.00 zone. However, if the token fails to hold above $8.00, a drop to $7.50 may follow.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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