Trump's Official Memecoin Surges Despite Massive $320 Million Unlock in Thin Holiday Trading

Despite the price increase, the token is still down over 88% from its peak and investors have lost a total of $2 billion.

• Donald Trump's TRUMP memecoin has gained over 9% in the past 24 hours, following a $320 million token unlock.
• The token unlock could still lead to a large sell-off, given the token's thin liquidity, with data showing that just $1.3 million could move the price by 2% on major exchanges.
• There are currently 636,000 TRUMP token holders, with only 12,285 wallets holding more than $1,000 worth of the cryptocurrency.
• Rumors are circulating about a possible event for large token holders, although these claims are unverified and speculative.

Despite a substantial $320 million token unlock, Trump's TRUMP memecoin has seen a notable 9% surge in value within the last day. The cryptocurrency tied to former President Donald Trump is currently trading at around $8.40, significantly below its peak price of over $71 observed on January 18th.

Investors have faced significant losses with TRUMP, with an estimated total loss of $2 billion since its inception earlier this year. The recent token unlock could potentially lead to heightened selling pressure given the limited liquidity of the token. Data suggests that even a relatively small amount of $1.3 million could result in a 2% price movement on major exchanges.

There are approximately 636,000 TRUMP token holders, with only 12,285 wallets containing more than $1,000 worth of the digital asset. Speculation is rife about a possible upcoming event targeted at large token holders; however, these claims are yet to be officially confirmed.

Rumors abound regarding an event supposedly organized by Donald Trump for significant holders of the cryptocurrency, though no concrete evidence supports these speculations at present.