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.

Donald Trump's memecoin, TRUMP, saw a surge of over 9% in value within 24 hours after a $320 million token unlock. The current price stands at $8.40, although it remains substantially lower, down more than 88% from its peak of over $71 on January 18.

Despite the recent positive movement, investors have collectively suffered losses totaling around $2 billion since acquiring the cryptocurrency earlier in the year.

Typically, token unlocks introduce new supply to the market and often result in price drops. However, in this instance, the market seemed to anticipate the unlock prior to its occurrence, potentially explaining the uptick in price. Nevertheless, with TRUMP's limited liquidity, there is a notable risk of a significant sell-off post unlock.

Speculations are circulating on social media about a potential gathering organized for major token holders by Trump himself. These assertions are currently unconfirmed and highly conjectural.