On April 18, Donald Trump's official memecoin will unlock 40 million tokens, equivalent to about 321 million USD, according to the 'cliff unlock' mechanism. This could impact the market due to the large supply being released simultaneously. The token ownership allocation mechanism is often used to encourage long-term holding and avoid initial sell-offs.
Trump's memecoin has dropped 89% since its peak.
Although the founders of Trump's memecoin have earned over 350 million USD, about 813,000 investment wallets have lost a total of 2 billion USD due to significant price volatility. The token peaked at 73.43 USD on January 19 but is now only at 8 USD, down 89% from its all-time high.
Trump's token is the largest unlock event in the week of April 14-20, accounting for about 61% of the total 519 million USD worth of tokens that will be released across various projects, according to Tokenomist.
The TRUMP token worth 519 million USD will be unlocked next week.
In addition to Trump's memecoin, next week will also see significant token unlocks from Fasttoken (80 million USD), Arbitrum (27 million USD), and Starknet (16 million USD). The tokens are primarily allocated to founders, members, and private investors.