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Did Trump just earn $93M from his memecoin’s token unlock?
In a recent development, it has been revealed that President Donald Trump’s affiliated businesses have gained access to nearly $93 million worth of tokens following the unlock of 90 million tokens in the Official Trump [TRUMP] memecoin. The market barely reacted to this significant event, with the price action underwhelming despite the substantial liquidity injection.
It appears that the token unlock has had a moderate effect on the RSI, indicating modest strength, while the MACD suggests only a mild bullish divergence. This lukewarm response from the market may be attributed to fading investor excitement as the hype surrounding TRUMP begins to wear off.
Despite the muted reaction, it is essential to note that Trump-affiliated entities now hold 76% of the token’s total supply across four distinct allocations. The largest increase in token allocation went to CIC Digital 2, which already held an impressive 18% of the supply and has now gained an additional 4.5%. This significant move solidifies CIC Digital 2’s position as a dominant force within the TRUMP ecosystem.
In conclusion, while it is accurate to say that Trump did not cash in his tokens during this recent unlock, it would be incorrect to assume he is not richer after the event. The sheer value of the tokens now accessible to Trump-affiliated businesses serves as a significant boost to his crypto-fueled fortune, regardless of whether any coins are actually sold.
Source: ambcrypto.com
