Former President Trump stated that he supports viewing his official memecoin as a tool to reflect public sentiment towards his leadership.

On his social platform Truth Social, Trump shared a Newsmax article discussing how his official cryptocurrency serves as a gauge of political momentum.

Despite the president viewing his memecoin as a success indicator, the market performance of the token exhibits a more subdued phenomenon.

Currently, the price of the official Trump (TRUMP) memecoin is about $10, down 85% from its peak of $73 in January. An estimated $520 million in tokens will be unlocked in July, potentially increasing downward pressure.

Trump token unlock imminent.

According to on-chain data compiled by Tokenomist (formerly Token Unlocks), 26.48% of the total supply of TRUMP tokens has been unlocked, with 73.52% or approximately 735 million tokens yet to enter circulation.

On July 18, approximately 25% of the current circulating supply of TRUMP tokens will hit the market, with $520 million worth of 50 million tokens being unlocked.

A large influx of tokens into the market could exert downward pressure on token prices, especially if demand does not grow in tandem.

Before the unlock, on June 7, Trump's son Eric Trump attempted to boost market confidence by announcing that World Liberty Financial plans to acquire a 'significant' amount of memecoin tokens.

Token prices have not reacted significantly, with commentators stating this is 'not a good sign.'

Whether investors absorb the upcoming unlock or engage in market sell-offs will reflect broader political enthusiasm for Trump’s leadership.

Related: Trump memecoin wallet in absolute chaos, family institution unaware of the release.

Memecoin as a measure of public sentiment.

Using memecoins as a measure of public sentiment is not new. Animoca Brands co-founder Yat Siu previously stated that the rapid appreciation of TRUMP tokens is due to hype and novelty.

However, the executive indicated that in the long run, this could < a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-effect-crypto-apps-dominate-us-app-store-finance-category" title="null">reflect a broader attitude towards President Trump's tenure.

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