On April 18, Trump’s official meme coin released around 40 million new tokens valued at approximately $300 million. Out of this, 36 million tokens, equivalent to 18% of the supply, went to the project creators and CIC Digital 1 company, while the remaining 4 million tokens, about 2%, were allocated to the creators and CIC Digital 4 company. This new release followed another 200 million tokens released on January 18, worth about $1.5 billion. Currently, the circulating supply of this meme coin has reached about 250 million with a maximum supply of 1 billion. Trump’s token on the Solana network (SOL) has gained popularity due to its direct connection to Donald Trump, the former US president. However, with a diluted market value of about $7.66 billion and a daily trading volume of around $278 million, this valuable meme coin has been in a downward trend for several weeks. The recent release will likely exert further downward pressure on the price, although technical analysis indicates that the Trump token price is on the verge of a bullish reversal. In the four-hour chart, a triple bottom reversal pattern and bullish divergence in the Relative Strength Index (RSI) are observed. If the price stabilizes above the 50-day moving average, there is a possibility of a price surge to the range of $9 to $10. You can monitor the live and real-time prices of all tokens and cryptocurrencies on the instant price page.
