The TRUMP token, a Solana-based memecoin linked to US President Donald Trump, has recorded a daily trading volume surpassing $1 billion after a shoutout from Trump.
This surge in volume reflects Trump’s influence in the cryptocurrency space. However, price data suggests that investors have grown skeptical and are no longer as enthusiastic about the token as they were at launch.
Can the TRUMP Meme Coin Sustain Its Momentum in April?
The recent spike occurred right after Trump posted about the token on TruthSocial on March 23.
“I LOVE TRUMP — SO COOL!!! The Greatest of them all!!!!!!!!!!!!!!!!,” Trump declared.
Trump’s enthusiastic endorsement drove the token’s price up by 10%. It is now trading around $11.8, with daily trading volume exceeding $1 billion—double the average of previous days, according to BeInCrypto data.
Despite this price increase, the token is still down 85% from its all-time high of $77. The decline reflects waning investor enthusiasm.
Additionally, some investors fear that selling pressure will return in April as a large amount of TRUMP tokens are set to be unlocked.
According to Cryptorank data, 40 million TRUMP tokens will be unlocked starting April 18. This accounts for 4% of the total supply and is valued at over $472 million. After that, at least half a million TRUMP tokens will enter circulation daily, continuing until the end of 2027. This unlocking process may intensify selling pressure and lower expectations among retail investors.
“Trump is shilling TRUMP coin on Truth Social… Seems like they are grabbing some exit liquidity before the unlock.” – Investor HENRI.SOL commented.
Last month, the TRUMP meme coin celebrated its one-month anniversary with an airdrop for supporters. However, this campaign failed to stop the token’s continuous decline amid the broader meme coin market downturn since the beginning of the year.
President Donald Trump launched the TRUMP token on January 17, 2025. It initially captured the crypto community’s attention, reaching a peak market capitalization of $15 billion just two days after launch.
Besides the TRUMP token, his wife also introduced a token named MELANIA. A Chainalysis report revealed that 94% of TRUMP and MELANIA tokens are controlled by just 40 wallets, highlighting a highly concentrated distribution among whales.
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