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Will TRUMP Token Implode?

BBG News

Ah, the TRUMP token, because what’s more stable and reliable than a cryptocurrency named after a reality TV star turned president? 🤣 As the markets prepare for a significant unlock event, investors are on the edge of their seats, wondering if their fortunes will soar or plummet. 🚀💸

At the time of writing, TRUMP is trading at $9.90, up 4% over the past 24 hours and about 16% higher than its price at the beginning of July. Not bad, but let’s not forget that it’s still a whopping 86% below its all-time high of $73.43 set on Jan. 19. Ouch! 😬

According to Tokenomist data, 90 million TRUMP tokens, representing 45% of the current circulating supply, are scheduled to unlock on July 18 at midnight UTC. That’s a cool $890 million worth of tokens that will be available for trading by early investors and the founding team. One can only hope they won’t cash out and buy a bunch of yachts. 🛥️

Since only 20% of TRUMP’s 1 billion maximum supply has been unlocked thus far, this event is kind of a big deal. Selling pressure may increase, particularly if early stakeholders decide to realize gains and buy those yachts. 🚣‍♀️

Trading activity has picked up sharply ahead of the event, because who doesn’t love a good gamble? 🎲 TRUMP’s 24-hour volume is over $1.25 billion, a 169% jump from the day before. On the derivatives side, Coinglass data shows that futures trading volume is up 157% to $2.06 billion, and open interest has grown by nearly 8% to $466 million. It’s like a game of musical chairs, except with millions of dollars. 🎶

Looking at the technical picture, TRUMP has been moving steadily upward, with recent candles holding above the $9.50 level. The Bollinger Bands are beginning to widen, a sign of increased price volatility. The relative strength index is at 57.6, neither overbought nor oversold, suggesting the market isn’t stretched in either direction. In other words, it’s a total crapshoot. 🤯

A few signs are beginning to improve, because who doesn’t love a good false sense of security? 😊 Momemntum, the MACD, and the awesome oscillator are flashing early bullish signs. Most short-term moving averages, including the 10-, 20-, and 50-day lines, show support under current prices. But let’s be real, it’s all just a bunch of squiggly lines on a chart. 📊

In the short term, a wave of selling from unlocked tokens could pressure TRUMP below $9.15, the 20-day SMA. A dip through that level could see the price fall to $8.90, which acted as a consolidation zone earlier this month. Or it could just plummet to zero and leave everyone crying in their beer. 🍺

Heavier sell pressure could drag TRUMP token toward the $8.00–$8.20 band, and in a more severe drawdown, the token may retest support near $7.50 or even $6.80, areas last visited in late June. But hey, at least it’s not as bad as the time it dropped to $0.01, right? 😂

If early recipients hold their tokens or if the influx is met with strong demand, TRUMP could extend its current rebound. The first level to watch is support at $9.50, which has served as a short-term base. Holding above this range could allow for a move toward $10.05, just above the recent resistance zone. But let’s not get too excited, we all know how this story ends. 🤦‍♂️

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2025-07-17 15:46

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