Former President Donald Trump has endorsed his official memecoin, TRUMP, as a gauge of public sentiment towards his leadership. He highlighted this view in a recent post on Truth Social, referencing a Newsmax article describing the token as a “barometer of political momentum.” This aligns with certain opinions within the cryptocurrency space. However, market data suggests that sentiment may be waning. As of June 7th, TRUMP is trading around $10, a considerable drop from its peak of $73 in January, indicating a potential shift in public opinion. 50 million TRUMP tokens are slated for release on July 18th – a substantial portion that could further depress prices if market demand doesn’t catch up.