The latest token unlock for the Trump memecoin (TRUMP) is generating buzz in the crypto community. This event, releasing over $300 million worth of tokens, could significantly impact its price trajectory. While some traders are skeptical of a potential price drop, history offers a mixed bag: this meme coin crashed 90% after its launch, suggesting both optimism and caution.
Will this unlock push the price toward a new monthly high or trigger a major correction? This article explores potential outcomes through a closer examination of the token’s performance and chart patterns.
Recent analysis reveals a triangle pattern forming around $7.50, indicating potential bullish reversal in the near future. Additionally, technical indicators like MACD and SMA highlight an uptick in bullish momentum for TRUMP.
Will this positive trend continue? If so, it could propel the token toward its resistance level of $9 by month’s end. However, a bearish trend reversal is also possible.
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