TRUMP, that memecoin of questionable parentage, once hogged the headlines, didn’t it? Now it’s floundering like a debutante at a ploughing contest. 🙄
One wonders, is this merely the prelude to a more spectacular collapse? Or just another absurd episode in the ongoing saga of financial buffoonery? 🤔
The Official Trump [TRUMP] memecoin, foisted upon us on the 17th of January 2025, has recently endured a token unlock event of some magnitude. One might even call it a spectacle.
On the 18th of April, a staggering 40 million TRUMP tokens were unleashed upon the unsuspecting market, valued at a sum approaching $300 million. A king’s ransom, or perhaps just a jester’s hoard?
These tokens represent a rather vulgar 20% of the current circulating supply and a measly 4% of the total supply, which shall balloon to a ludicrous 1 billion tokens over the next three years. One shudders to think.
However, structurally, TRUMP has exhibited a price degradation so severe it would make a Victorian widow blush, retracing -88% from its ATH of $74.59. Such a comedown!
With a price structure as sturdy as a house of cards and sell-side pressure mounting like creditors at a debtor’s door, does this unlock represent a “high-risk” liquidity event, or merely a calculated gamble in a market that resembles nothing so much as a lunatic asylum?
TRUMP tokenomics under scrutiny (as if they were worth the bother)
The TRUMP token boasts a cap of 1 billion tokens, scheduled to be unlocked over the next three years, supposedly setting a hard supply ceiling. One hopes it’s made of sterner stuff than the token’s price.
Currently, a paltry 20% of the total supply, or approximately 200 million tokens, are in circulation, with the remaining tokens poised to flood the market like so many unwanted guests at a society wedding.
Once these new tokens enter circulation, they will inevitably contribute to market dilution, exerting downward pressure on the price, particularly if holders, seized by a fit of rationality, choose to sell immediately upon unlocking. The horror!
However, despite these inflationary shenanigans and supply-side pressures, TRUMP’s fundamentals have demonstrated a resilience that is, frankly, quite baffling, as illustrated by the chart below. One is almost impressed.
Even though the token has shed its initial “hype” like a snake shedding its skin, TRUMP’s STH Net Unrealized Profit/Loss (NUPL) hasn’t descended into abject capitulation. Instead, it has maintained a bullish bias, which is either a testament to its inherent value or a sign that the market has completely lost its marbles. 🤪
This peculiar behavior suggests that Short-Term Holders (STHs) are clinging to their positions with the tenacity of a drowning man, demonstrating an optimism that borders on delusion and steadfastly refusing to acknowledge their losses. Bless their cotton socks.
In conclusion, TRUMP’s 88% price correction could very well precipitate further volatility following the release of those 40 million tokens. One braces oneself for the chaos.
However, its surprisingly robust fundamentals suggest that its tokenomics continue to position it as a compelling bullish bet. Or perhaps a compellingly absurd one? Only time (and the fickle whims of the market) will tell.
Key levels to watch (if you must)
In alignment with AMBCrypto’s bullish pronouncements, TRUMP staged a robust 8% intraday rally in the immediate aftermath of the 40 million token unlock. A veritable triumph of optimism over reason! 🥳
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On the one hand, unwavering holder conviction stubbornly defends the $7 support level, preventing a dreaded breakdown. On the other, feeble capital inflows are stifling TRUMP’s breakout potential. A stalemate of epic proportions!
Network growth metrics mirror this stagnation, with new wallet addresses plummeting to a mere 1,476— a stark contrast to the dizzying 700,000 wallet count observed during its bullish expansion phase. The glory days, it seems, are well and truly over. 😩
In conclusion, TRUMP’s recent rally appears to be a rather pathetic reflexive bounce, fueled by speculative positioning around the token unlock. A brief flicker of hope in an otherwise gloomy landscape.
Without a resurgence in inflows or a revival of network activity, the asset remains vulnerable to prolonged consolidation. Or, to put it more bluntly, it’s likely to continue its descent into obscurity. One can only hope it doesn’t take the rest of us with it. 😬
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2025-04-20 12:14