Official Trump (TRUMP) memecoin unlocked 40 million tokens, worth around $300 million
The TRUMP memecoin has gained significant popularity on the Solana network primarily due to its direct affiliation with the U.S. President Donald Trump.
The mid-cap Solana memecoin, which is also fully diluted to about $7.66 billion and has a 24-hour average trading volume of about $278 million, has been trapped in a multi-week falling trend.
The latest TRUMP token unlock will weigh down on bullish sentiment in the coming future as the dilution from the early investors surges.
However, from a technical analysis, TRUMP’s price is well primed for a bullish rebound in the coming weeks. If Bitcoin (BTC) price leads the wider altcoin market to mirror gold price action, TRUMP price will likely rebound to form a new rising trend.
In the four-hour timeframe, TRUMP price, against the U.S. dollar, has been forming a reversal pattern characterized by a triple bottom coupled with bullish divergence of the Relative Strength Index (RSI).
A consistent close above the 50-day Moving Average (SMA) will trigger a rally toward the next liquidity range between $9 and $10.
News data source: kdj.com
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