On April 12, according to CoinDesk, Trump's meme coin TRUMP will usher in large-scale token unlock next week, unlocking 40 million pieces on April 18, and the project team will receive $320 million worth of tokens, accounting for about 20% of the circulating supply. If the unlocked token is sold to the open market, the supply-to-liquidity ratio will be severely imbalanced, which may lead to further pressure on prices. Since its launch on January 18, the price of TRUMP tokens has recently hit $7.14, with a current price of $8, and its value has shrunk by 83%.

According to Dune data, the number of TRUMP token holders has dropped from 817,000 at the time of its initial public offering to 637,000. Currently, only 12,000 wallets hold more than US$1,000 TRUMP tokens, a sharp decline from 143,000 on January 19. Token unlocking is usually a negative event, but sometimes the market will digest expectations in advance, causing the price to fall to a new low before unlocking and rebound slightly after unlocking. It is not yet certain whether the Trump team will sell unlocked tokens, but selling in the open market will put short-term pressure on prices, with the 2% market depth indicator showing that the current liquidity level of $980,000 to $2 million cannot bear the $320 million selling pressure.

The meme coin craze is gradually dissipating, and the total market value of meme tokens has plummeted from US$119 billion in December to the current US$45 billion.