TRUMP Token Faces $370 Million Unlock, Price Drops 4.42%

The TRUMP token is on the brink of a significant event as 20% of its total supply, valued at approximately $370 million, is set to be unlocked tomorrow. This unlock will introduce 40 million new tokens into circulation, marking the final and largest scheduled supply increase for the project. The impending unlock adds considerable pressure to the already bearish token, which is currently hovering just above a critical support level of $9.00 to $9.05. The next 24 hours could be pivotal in determining the short-term trajectory of this politically-themed cryptocurrency, which has been experiencing a loss of momentum recently.

As of the latest data, the TRUMP token is trading at $9.09, reflecting a daily decline of 4.42%. The price opened near $9.53 but quickly faced rejection, leading to a series of lower highs and lower lows. This pattern suggests consistent selling momentum, further emphasized by strong volume on the red day. The support zone between $9.00 and $9.05 has held so far but has been tested multiple times. If this level breaks, further downside could be expected. Immediate resistance remains at $9.53, the day’s high, where sellers are actively defending the range, making it a challenging barrier to reclaim.

The market cap of the TRUMP token has decreased to $1.81 billion, mirroring the 4.42% price decline. Daily volume has also dipped by 12.42% to $455.3 million. This drop suggests either reduced interest or uncertainty ahead of the token unlock. While the Vol/Market Cap ratio sits at 25.14%, which is relatively high, it indicates speculative activity rather than long-term accumulation. Technical indicators present a mixed picture. The Relative Strength Index (RSI) is at 46.03, hovering below the neutral 50 line, indicating a lack of strong momentum. The Moving Average Convergence Divergence (MACD) suggests a mild bullish crossover, but the histogram remains negative, hinting at weak buying interest and ongoing consolidation.

In summary, the TRUMP token is facing a critical juncture with the upcoming unlock of 40 million tokens worth $370 million. The token's price is nearing a crucial support zone, and technical indicators suggest weak momentum despite speculative trading activity. The next 24 hours will be decisive in shaping the short-term future of the TRUMP token, as it navigates through this significant supply shock.