- TRUMP faces largest unlock event as 40M tokens worth $370M enter circulation
- Price nears critical $9 support zone after consistent lower highs and lows
- RSI and MACD suggest weak momentum despite speculative trading activity
The TRUMP token is heading into a crucial trading day, as 20% of its total supply—worth approximately $370 million, is set to be unlocked tomorrow, according to data from Messari. This event will release 40 million new tokens into circulation, marking the final and largest scheduled supply increase for the project.
The massive unlock adds considerable pressure to the already bearish token, especially as it hovers just above a vital support level. The next 24 hours may define the short-term trajectory for the politically-themed cryptocurrency, which has been losing momentum recently.
Price Action Slips Toward Key Support
TRUMP as of press time is trading at $9.09, marking a daily decline of 4.42%. The price opened near $9.53 today’s intraday high but quickly faced rejection.
Related: A Look at the $3 Billion in Altcoin Unlocks Set to Hit the Market in July
Since then, the token has recorded a series of lower highs and lower lows. This structure often reflects consistent selling momentum, a concern further highlighted by strong volume on the red day.
The support zone between $9.00 and $9.05 has held for now. However, it has been tested multiple times. If this level breaks, further downside could be expected. Immediate resistance remains at $9.53, the day’s high. Sellers are clearly defending that range, making it a tough barrier to reclaim.
Market Metrics Signal Weakness
TRUMP’s market cap has dropped to $1.81 billion, mirroring the 4.42% price decline. Daily volume has also dipped by 12.42% to $455.3 million.
Related: Official Trump (TRUMP) Leads in Major Weekly Insider Unlocks Worth Nearly $1 Billion
This drop suggests either reduced interest or uncertainty ahead of the token unlock. While the Vol/Market Cap ratio sits at 25.14%, which is relatively high, it points to speculative activity rather than long-term accumulation.
Technical indicators show a mixed picture. The RSI sits at 46.03, hovering below the neutral 50 line. This indicates a lack of strong momentum.
The MACD suggests a mild bullish crossover, but the histogram remains negative. This hints at weak buying interest and ongoing consolidation.
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