Bitcoin $94,711‘s price has lingered above $85,000 just hours ago but now stands at around $84,600, experiencing relatively low volatility. Weekend trading inactivity has resulted in a prolonged period of shallow price movements. Enthusiasm among traders has not yet returned, which often leads certain altcoins to show positive divergence during such times.
Trump Coin’s Recent Performance
Despite a key unlock yesterday, the Trump Coin price experienced an increase of about 10%. As previously announced, 40 million tokens entered circulation. With this unlock representing 4% of the total supply, the circulating supply surged from 200 million to 240 million tokens.
Normally, such unlocks would lead to price declines; however, the result for Trump Coin was quite the opposite. The price rose from $7.5 to $8.72, indicating an increase of over 10%.
The newly circulating supply is controlled by the project’s founders and CIC Digital LLC. Launched on the Solana $146 network, Trump Coin emerged just hours before the new president took the oath of office. While it has been part of the meme coin craze on the Solana network, the liquidity during that period shifted towards other ineffective tokens, leading to greater losses for altcoins in the first quarter.
Nonetheless, with Trump in office, the excitement surrounding Trump Coin could see significant growth during his four-year term.
Trump Coin Price Forecast
Those who purchased Trump Coin before January 21 are largely anticipating losses. In news-driven hype surrounding meme coins, even with a figure as notable as the President of the United States, the upward trend cannot last indefinitely. As of now, the price remains 90% below the peak, which exceeded $80 at the time of writing.
With a trading volume of $460 million and a market cap of $1.64 billion, Trump Coin is still active and gaining attention. However, with regular unlocks expected in the medium term and a fully diluted valuation currently exceeding $8 billion, continued price declines are likely. When all tokens are in circulation, the estimated market cap will also reach $8 billion, with the closest meme coin being SHIB. While tokens like PEPE and BONK have fallen to valuations between $3 billion and $500 million, engaging in short-term trading could pose extra risks.
In case of sudden surges, price tests may reach $12.5, but traders should be aware of the continual downward trend.