Trump's Endorsement Sparks TRUMP Token Surge Amid Looming Unlock Concerns

The TRUMP token, a Solana-based memecoin launched in January 2025 and linked to former US President Donald Trump, experienced a notable price boost following a shoutout on TruthSocial on March 23. The endorsement resulted in a 10% price jump to approximately $11.8 and pushed daily trading volume above $1 billion, doubling previous averages. Despite the rally, the token remains 85% below its all-time high of $77, reflecting diminishing investor enthusiasm. Compounding these concerns is an upcoming unlock schedule that will see 40 million TRUMP tokens—valued at over $472 million—enter circulation starting April 18, with daily releases scheduled until the end of 2027. Investors worry that this significant increase in supply may trigger another wave of selling pressure and further damage sentiment. Additionally, the news mentions that Trump's wife has introduced a similarly themed token under the ticker MELANIA. A Chainalysis report highlighted that 94% of both TRUMP and MELANIA tokens are controlled by just 40 wallets, emphasizing a high concentration among a few major holders. The episode underscores both the power and the pitfalls of celebrity endorsements in the crypto space, where short-term gains can be offset by structural market challenges and investor skepticism.