TRUMP memecoin under pressure amid upcoming $320m token unlock this week

Donald Trump’s Solana-based memecoin, TRUMP, is facing growing market pressure as a massive token unlock looms.

According to data from Tokenomist, on Apr. 18, the project will release 40 million tokens, worth over $320 million at current prices, to its team. This is TRUMP’s first major unlock and will add roughly 20% of the current circulating supply to the market.

Following the event, 493,000 TRUMP, around $4 million, will be unlocked daily until the next major unlock in July.

The upcoming unlocks have raised concerns over potential price impact due to increased token supply.