U.S. president Donald Trump has signed support for the idea that his official memecoin reflects public feelings about his leadership.
In a post on his social media platform that is social reality, Trump shared A Newsmax article discussing how his official cryptocurrency token serves as a scale of political momentum, which guards the views shared by some crypto industry numbers.
While the president may recognize his memecoin as a success barometer, the performance of the token market paints a more sad picture if it is used as a sentimental size.
At the time of writing, his official Trump (Trump) Memecoin Putted around $ 10, down 85% since high time of $ 73 in January. A scheduled $ 520 million unlocked token in July could apply additional down pressure.
Trump token sets for $ 520 million unlocking
According to In the onchain data combined with tokenomist (former token unlocks), only 26.48% of Trump’s total token supply was locked, with 73.52% – about 735 million tokens – PA to get into circulation.
On July 18, Trump’s tokens worth 25% of the current circulating -shifted supply will hit the market. Tokenomist data shows that 50 million tokens worth more than $ 520 million will be locked.
A large number of market pressures have the potential to put additional downward pressure on the token price, especially if the demand is not parallel.
In the lead-up to unlock, on June 7, Trump’s son Eric Trump attempted to strengthen confidence in the market With the company supported by the Crypto Company World Liberty Financial, the WLF has announced that the memecoin tokens will obtain a “huge amount”.
The price of the token did not react dramatically, the leading commentators to say that it was “not a good sign.”
Ultimately, if investors absorb the upcoming unlock or reaction to a market sale may indicate a greater political enthusiasm for Trump’s leadership.
Related: Trump Memecoin Wallet in ‘Current Courage’ as Org Org without knowing the launch
Memecoins as a tool in measuring the public sentiment
The use of Memecoins as a tool to measure public sentiment is not new. Animoca Brands Co-Founder Yat Siu has previously told Cointelegraph that Trump’s rapid token increase is due to hype and freshness.
However, the executive said that in the long term period, it could reflects the broader thoughts Towards Trump’s presidency.
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