Samecoin, based in Solana by Donald Trump, Trump, faces growing market pressure as unlocking massive tokens.
According to Tokenomist data, on April 18, the project will publish 40 million tokens, worth more than $ 320 million at current prices, to its team. This is Trump’s first major unlocking and will add around 20% of the current traffic supply to the market.
After the event, 493,000 Trump, around $ 4 million, will be released daily until the next major unlocking in July. Upcoming unlocks have raised concerns about the potential price impact due to the increase in tokens supply.
Trump is traded at $ 8.27 from press time, down more than 5% in the last day. The token is now 88% below its $ 73.43 summit set on January 19, in accordance with Coingecko data. Due to the increase in market activity before unlocking, the volume of exchanges increased by 23% to $ 476 million in the last 24 hours.
The data on the chain indicate a drop in the interest of investors. The data from a dashboard of a dune show that the total number of door holders has decreased to 638,000, a decrease of 0.3% this week and a huge decrease of more than 800,000 holders recorded in January. Less than 13,000 portfolios hold more than $ 1,000 in Trump, which indicates that a large percentage of users has modest and speculative assets.
The technical indicators indicate a downward pressure on the token. The majority of significant medium of moving are lower than the current price of Trump, the exponential medium -sized moving of 20 and 50 days indicate new decreases. A low bullish crossing in the convergence / Mobile average divergence suggests a possible but uncertain recovery, while the relative force index is close to the territory of occurrence at 37.37.
Support is located nearly $ 7.50, where Trump has already seen purchasing interests. The price could evolve around $ 6.80 if it breaks below this level. The resistance is expected to increase nearly $ 9.20 and $ 10.90, which corresponds to the longer term mobile averages.
Even if the retailers of goods affiliated with Trump as gettrumpsneakers.com can use the same, its price movement indicates that investors are more interested in speculation than by real uses of the world. As unlocking is getting closer, traders will have an eye on the feeling of the market and the price movement.
