Launched by former U.S. President Donald Trump, the TRUMP meme coin has appreciated in value despite the release of some tokens initially locked at launch.
On April 17, 40 million TRUMP tokens, allocated to the project’s creators, became available for trading. These tokens represent 4% of the maximum supply and about 16.5% of the circulating supply.
Despite the potential for significant selling pressure, the asset’s price rose by approximately 14% over the following days—from $7.54 to $8.57.
At the time of writing, TRUMP is trading at $8.31—approximately 83% below its all-time high of $48.59 recorded on January 21. The market capitalization stands at $1.66 billion.
Back in March, the Trump family’s World Liberty Financial project confirmed plans to launch the USD1 stablecoin.