Donald Trump’s official memecoin, $TRUMP, defied expectations by rallying more than 9% in the past 24 hours, despite a massive $320 million worth of tokens becoming available for trading.
The move comes amid thin liquidity and subdued trading volumes during the Easter holiday weekend, raising both optimism and caution among investors.
The $TRUMP token is currently trading at around $8.40, marking a notable rebound but still down more than 88% from its all-time high of over $71, reached on January 18, 2025.
Despite the recent uptick, investors who bought near the peak have collectively lost an estimated $2 billion.
The latest unlock released 40 million tokens, valued at approximately $320 million, into the market. This event increased the circulating supply from 200 million to 240 million tokens, representing 4% of the total one billion-token supply and approximately 20% of the circulating market cap.
The unlock is part of a pre-announced schedule, with further tranches set to be released daily over the next two years.
The memecoin’s liquidity remains thin—data shows that just $1.3 million in trading volume can move the price by 2% on major exchanges.
This, combined with the holiday’s low trading activity, has amplified price swings and raised concerns about potential large-scale sell-offs as more tokens hit the market.
There are currently 636,000 on-chain holders of $TRUMP, but only about 12,285 wallets hold more than $1,000 worth of the token.
This suggests a highly fragmented ownership base, with most investors holding small amounts.
Social media is abuzz with rumours of a possible event for large token holders, allegedly being organised by Trump himself. However, these claims remain unverified and should be treated as speculative.
