Cryptocurrency market participants are gearing up for a large number of meme coins to unlock listings, with Trump’s meme coin TRUMP scheduled to unlock 40 million tokens allocated to affiliated groups on Thursday, meaning holders such as early investors or insiders who were previously restricted from selling can now freely trade these tokens.
Messari analyst Dylan Bane said that once unlocked, it could trigger a sell-off, which could trigger a further decline in the price of the token, but the Trump team is too likely to do so because they don’t want negative publicity. Edward Chin, co-founder of Parataxis, pointed out that if the Trump team works with the right market makers, unlocking may not be as important in the short term. But in the long run, the additional supply will put pressure on the price action, either driving the price down, or not being able to rise significantly even if new demand comes in.
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