​Trump memecoin surges 8% to $8.30 despite 40M token unlock

- On April 18, the Official TRUMP project unlocked 40 million tokens, increasing the circulating supply by 20%.

The price of Trump memecoin, Official TRUMP, rose by 8% on Tuesday despite a major unlock that increased the token’s circulating supply by 20%.

According to data from CoinMarketCap, TRUMP was trading at around $8.30 by 07:08 ET, up 8% over the previous 24 hours.

This price increase came despite the fact that 40 million TRUMP tokens were unlocked earlier today, adding 20% to the circulating amount and taking it to 240 million.

The unlock, equal to 4% of the total token supply, was expected to exert strong selling pressure on the token price as early holders sold their unlocked tokens on the open market.

However, the token price remained largely unaffected by the massive unlock.

Earlier today, X user trenchdiver shared a post claiming that a special webpage is being prepared for major TRUMP holders to attend a private dinner with Donald Trump.

According to trenchdiver, the page is password-protected on Vercel and contains little information:

"Don't try to access this site through the Web application firewall (WAF) or any other method other than the one intended. Any unauthorized attempts to access this site will be met with legal action by the TRUMP legal team."

The post also mentions that those who wish to attend the dinner must purchase the TRUMP token.

The dinner rumors, which were also reported by several media outlets, may have attracted interest from new, large buyers.

According to The Block, the unlocked tokens belong to the project’s creators and CIC Digital LLC.

Trump is also listed as manager, president, secretary, and treasurer of CIC Digital, which also licensed his image for multiple NFT collections.