Trump's Official Memecoin Surges Despite Massive $320 Million Unlock in Thin Holiday Trading
Despite the price increase, the token is still down over 88% from its peak and investors have lost a total of $2 billion.
What to know:
Donald Trump's TRUMP memecoin has gained over 9% in the past 24 hours, following a $320 million token unlock.
The token unlock could still lead to a large sell-off, given the token's thin liquidity, with data showing that just $1.3 million could move the price by 2% on major exchanges.
There are currently 636,000 TRUMP token holders, with only 12,285 wallets holding more than $1,000 worth of the cryptocurrency.
Rumors are circulating about a possible event for large token holders, although these claims are unverified and speculative.
