- TRUMP token surged 9.3% in 24 hours with a 49.2% jump in trading volume.
- A 40 million token unlock—worth $332M—is set to hit the market, raising volatility risks.
- Technical breakout from a descending triangle points to a possible rally toward $31.
The TRUMP meme coin is back in the spotlight after a surprising 9.3% pump in the past 24 hours, coinciding with a 49.20% surge in trading volume.
As of press time, TRUMP is trading at $8.32, slightly retracing from its daily high of $8.52. This price uptick precedes a major token unlock scheduled for Friday, an event expected to impact market dynamics.
Massive Token Unlock Imminent
According to Tokenomist, about 40 million TRUMP tokens are scheduled for release Friday. That puts roughly $332.8 million worth of tokens into the available supply.
This represents 4% of the total 1 billion token supply, but a more substantial 20% of the current circulating supply, which sits at around 200 million tokens.
While that’s 4% of the total 1 billion supply, it’s significant as it makes up 20% of the tokens currently trading (around 200 million). Importantly, reports say most unlocking tokens belong to the project team and large initial holders, raising concerns about potential selling pressure.
What Do the TRUMP Coin Charts Show Us?
Looking at TRUMP’s daily chart, it shows a large descending triangle pattern formed over two months, with a floor near $7.50. Today, the price broke above the pattern’s downward resistance line, now testing the $8.30 to $8.50 zone.
This breakout is a key technical sign. If the price stays above this line, it could point to a new upward trend. Using the pattern’s height (about $22.50), the calculated technical target suggests a potential move towards the $31 mark.
Backing this up, the Relative Strength Index (RSI) has climbed to 42.35, rising from the oversold levels of 34 just days ago. Although not yet in bullish territory (above 50), the uptrend indicates building momentum.
The MACD has crossed above its signal line and moved into positive territory with a value of 0.14. The histogram also remains bullish for the TRUMP meme coin.
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Source: https://coinedition.com/trump-price-alert-april-20-breakout-targets-31-on-charts-but-faces-major-unlock-event/