Trump Token's 85% Weekly Surge Defies Democrats' Call for Impeachment, Massive Unlocks

U.S. Peesident Donald Trump's memecoin has led to calls for impeachment and inflated its circulating supply in major unlocks. It's still defying gravity.

• Trump memecoin surged about 15% in a day amid backlash over a private dinner with top token holders.
• Sen. Jon Ossoff cited the dinner as evidence of “impeachable” behavior.
• Massive token unlocks have inflated its circulating supply, yet the token has kept on rising.

Trump Token's Surge Defies Impeachment Calls Amid Massive Unlocks

The Trump memecoin, closely associated with U.S. President Donald Trump, has defied expectations by soaring 16% in the past day despite mounting calls from Democratic figures for his impeachment due to alleged involvement with the token. The controversy stems from a private dinner organized for the top 220 TRUMP memecoin holders.

Senator Jon Ossoff expressed concerns over potential impeachable behavior, stating that when a sitting president is perceived as granting access for direct payments, it raises serious questions that warrant impeachment considerations.

Despite facing criticism and a recent significant increase in its circulating supply following a $320 million unlock earlier this month, the TRUMP token continues its upward trajectory. Its value surged by 85% over the last week alone and shows resilience even as another substantial unlock looms in the near future.

Although the token has yet to recover fully from its peak value of over $70 shortly after its launch, which resulted in substantial losses for investors estimated at around $2 billion, its recent performance suggests ongoing investor interest despite the controversies surrounding it.

Despite the recent rise, the token is still down more than 77% from its all-time high above $70, which it saw shortly after launch. Its subsequent price plunge led to an estimated $2 billion of investor losses.