The United States President Donald Trump has indicated support for the idea that his official Memcoin reflects public sentiment about his leadership.
In a post on your social media platform Truth Social, Trump Shared A newsmax article discusses how his official cryptocurrency token acts as a gauge of political speed, resonating ideas shared by some crypto industry data.
While the President can recognize his memecoin as a success barometer, the token market performance paints a more quiet picture if it is to be used as a feeling gauge.
At the time of writing, his official trump (trump) memecoin Business About $ 10, 85% below all time of $ 73 in January. In July, a prescribed $ 520 million token unlock may put pressure forward.
Trump token set for $ 520 million unlock
According To turn on the data compiled by tokenomist (east tokens), only 26.48% of the total supply of Trump tokens is unlocked, with 73.52% – about 735 million tokens – yet to enter the circulation.
On July 18, Trump Token will be a hit of 25% of the existing circulating supply in the market. Tokenomist data suggests that 50 million tokens worth more than $ 520 million will be unlocked.
A large number of tokens have the ability to put pressure on the cost of the market and put pressure on the bottom, especially if the demand is not parallel.
Under the unlock, on 7 June, Trump’s son Eric Trump tried to increase market confidence using Trump-Sam-Sam-Sam-Samasted Crypto Company World Liberty Financial, announcing that WLF plans to receive a “adequate amount” of the Memcoin tokens.
The price of the token did not react much, to say that it was “a good sign”.
Finally, whether investors absorb upcoming unlock or react with market sales, may indicate widespread political enthusiasm to Trump’s leadership.
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Memcoin as a public emotion measurement tool
It is not new to use memecoin as a tool to measure public emotion. Yat Siu, the co-founder of Enemoka Brands, told the first coinlagraph that the rapid growth of Trump tokens was due to propaganda and innovation.
However, the executive stated that in the long term, it could reflect Trump’s comprehensive attitude towards the presidency.
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