The Trump cryptocurrency continues to garner attention among traders as an upcoming token unlock may significantly impact its market value.
Current Price and Market Dynamics
The Trump cryptocurrency was trading at $10.10 on Thursday, slightly above this month’s low of $8.55. It has increased by 9.8% over the past week; however, this trails behind other Solana-based tokens such as Bonk and Pudgy Penguins, which have surged over 20%.
Expectations Around the Token Unlock
According to DeFi Llama data, a significant increase in the circulating token supply is expected on Friday, which could negatively impact the price. Most of these tokens will go to entities controlled by Donald Trump, who may consider selling.
Price Activity Analysis
The 12-hour chart indicates that the Official Trump meme coin has been moving sideways in recent weeks. The spread between the Bollinger Bands has narrowed, suggesting a potential for significant volatility change. If this occurs, the next key price level to watch is $15.
The Trump cryptocurrency is navigating through uncertainty due to the forthcoming token unlock, likely affecting its price and demand significantly. Analyzing current trends and whale movements in the market will aid traders in making more informed decisions.
