The TRUMP meme token associated with Donald Trump’s presidential campaign has shown growth despite the opening of a large number of tokens that were previously blocked for trading. As early as April 17, 40 million TRUMP tokens entered the market, which is 4% of the maximum issue volume and about 16.5% of the current turnover.
It was expected that the unlocking of such a large number of coins would put pressure on the price, but this did not happen. Within a few days after the event, the value of the asset increased by about 14%, from $ 7.54 to $ 8.57. This came as a surprise to some market participants who predicted a possible price drop due to a potential supply crash.
Currently, the token is trading at $ 8.31, which is 83% lower than its all-time high of $ 48.59 recorded on January 21. Nevertheless, the project’s market capitalization remains significant at about $ 1.66 billion, which allows the token to maintain a prominent position in the meme-coin market.
The activity around the token has also increased amid the announcement by Trump’s family business, World Liberty Financial, to launch a new stablecoin pegged to the US dollar. Such an initiative could further influence the attention to the TRUMP token if the two projects start to interact.
The current dynamics of TRUMP demonstrate that interest in political and meme tokens is not disappearing, even in the face of potential supply pressure. It also shows that there is still confidence in TRUMP from part of the investor community, which sees it not only as a playful asset but also as a tool for political presence in the crypto environment.