According to ChainCatcher, US President Donald Trump forwarded an article on Truth Social, endorsing its official Memecoin (TRUMP) as an indicator of public political sentiment. Data shows that the token price is about $10, down 85% from its high in January.
On-chain data shows that only 26.48% of TRUMP tokens have entered circulation, and the remaining 735 million have not yet been unlocked. Based on the current price, the 50 million TRUMP tokens to be unlocked on July 18 are worth about $520 million, which may put pressure on market prices.
Industry insiders pointed out that Memecoin’s short-term price fluctuations are driven by hype, and its long-term trend may reflect the public’s expectations of Trump’s political prospects.
