TRUMP cryptocurrency, the meme coin named after President Donald Trump, rose more than 8 percent

President Donald Trump’s official TRUMP cryptocurrency rose more than 8 percent in the last 24 hours late Friday, even after 40 million tokens (worth $320 million) were unlocked

President Donald Trump’s official TRUMP cryptocurrency rose more than 8 percent in the last 24 hours late Friday, even after 40 million tokens (worth $320 million) were unlocked on Thursday, expanding the available supply for trading.

The new tokens represented 4% of the project’s one billion token limit but boosted the circulating supply by 20%, from 200 million to 240 million.

Traders had expected selling pressure ; however, the market price climbed from about $7.54 before the unlock to roughly $8.30, leaving the meme coin up 8.5 percent on the day and well above holiday-weekend lows.

Data posted by CoinMarketCap shows that only $1.3 million volume can still nudge the price 2 percent on the largest exchanges, a sign of thin Easter weekend liquidity that can increase volatility.

Token unlock events normally put a lot of pressure on digital coins because early holders can sell their bags. Thursday’s allocation belonged to the project’s creators and to CIC Digital LLC, the corporate entity that manages Trump’s licensing deals, the memecoin’s website states.

Online forums buzzed with rumors that Trump is planning a gathering for major token holders. However, no details or confirmation have surfaced.

The coin’s purpose is still unclear

Beyond bets on the price action and movements, the coin’s purpose remains unclear. The project’s website says the tokens are “an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol ‘$TRUMP’ and the associated artwork,” and stresses they are “not intended to be … an investment opportunity, investment contract, or security of any type.”

Blockchain data by Dune shows that 636,000 wallets hold TRUMP, but only 12,285 control more than $1,000. Research firm K33 labeled the tokenomics “poor” in a January note when the coin briefly touched its record $71.

Regulatory scrutiny has followed the hype. Three days before taking office, Trump promoted the Solana-based token on social media. The watchdog group Public Citizen urged authorities to investigate the endorsement.

Reuters reported in February that entities behind the coin collected nearly $100 million in trading fees within two weeks, citing estimates from three blockchain-analysis companies.

Government concern has also spilled into lawmaking. Last month, House Financial Services Committee Chair French Hill, R-Ark., said the Trump family’s growing crypto activity is complicating congressional efforts to craft stable-asset rules. It includes links to the decentralized-finance venture World Liberty Financial and its planned stablecoin.

Trump is listed as manager, president, secretary, and treasurer of CIC Digital LLC, which has already licensed his likeness for several NFT collections.

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