Has the meme coin season returned? The price of the TRUMP coin has risen by 11% and its implications for the market🪙

#ILOVE$TRUMP

The price of the meme coin associated with Donald Trump, TRUMP, recovered over the weekend after the president posted a popular message to support his coin on Truth Social, where he wrote: "I love the TRUMP coin, it's amazing!!!". As a result, the price of the coin increased by 11% from $10.93 to $12.24.

Although the price later stabilized at around $11.85, trading has clearly increased, with daily trading volume rising by 288% to $1.22 billion, making TRUMP temporarily the most traded meme coin in the market.

Despite the short-term price increase, concerns remain about the long-term structure of TRUMP, as blockchain data reveals that 94% of its total supply is held in only 40 wallets, raising concerns about potential price manipulation and coordinated sell-offs.

Key risks to watch:

1- 94% of the total supply is held in 40 wallets.

2- 40 million coins are set to be unlocked on April 18.

3- Regulatory pressure through the meme coin bill.

4- The price of the coin is still 80% lower than its peak in January.