The TRUMP token is experiencing renewed volatility as it prepares for a significant unlocking event that may greatly impact the market.
Current Price and Movement of TRUMP
Currently, the TRUMP token is trading at $9.90, marking a 4% increase over the past 24 hours and 16% higher than at the start of July. However, the token remains 86% below its all-time high of $73.43 set on January 19.
Token Unlocking and Its Impact
According to Tokenomist, 90 million TRUMP tokens, representing 45% of the current circulating supply, are set to unlock on July 18 at midnight UTC. Valued at approximately $890 million, these tokens will be available for trading by early investors and the founding team. Given that only 20% of TRUMP's maximum supply of 1 billion tokens has been unlocked thus far, this event is one of the most significant in the token's release schedule.
Technical Analysis and Forecasts
From a technical perspective, TRUMP has been steadily moving upward, with recent candles holding above the $9.50 level. Indicators such as the MACD and Awesome Oscillator are showing early bullish signs. If a wave of selling from unlocked tokens occurs, it could pressure TRUMP below the $9.15, potentially lowering prices to $8.90, which served as a consolidation zone earlier this month.
The market situation for the TRUMP token remains uncertain. Possible scenarios include both selling pressure and support from buyers, highlighting the importance of monitoring price dynamics ahead of the unlocking event.
