$TRUMP Coin Warning as Influencer Pump Masks Token Dump

$TRUMP coin has gained some momentum at the start of the long Easter weekend — but not for the right reasons. At the time of writing, the coin is trading around $8.52, up nearly 12% in the past 12 hours. While that kind of pump might seem exciting, longtime trader and historic NFT collector Visacard has issued a sharp warning about what’s really going on behind the scenes.

Good to know

• Influencer marketing was reportedly used to pump $TRUMP’s price ahead of the unlock, currently up  12% over last 24 hours.
• Daily unlocks of $4 million in tokens are set to continue for the next two years.
• Today’s unlock alone equals $320 million in potential sell pressure.
• On-chain behavior of the same team with $MELANIA suggests similar dumping could happen again.

According to Visacard, the recent price jump was no coincidence. The team behind $TRUMP reportedly paid several influencers to aggressively promote the token — all timed perfectly with today’s unlock event, as you can see CryptoRank. The goal? To drive up price and volume just enough to offload a massive batch of free tokens without drawing too much suspicion.

So, how much is being unlocked today? Around 40 million $TRUMP tokens are set to hit the market — which equals roughly 4% of the total supply and a hefty 20% of the circulating supply. At an average price of $8 per coin, that’s about $320 million in tokens flooding into the market.

But it doesn’t stop there…

Over the next two years, an additional 500,000 $TRUMP tokens will unlock every single day. Using the same $8 price point, that’s $4 million in daily sell pressure — or around $120 million a month. Unless major new buyers show up in droves, that kind of daily unlocking will be tough for the market to absorb.

Adding to the concerns is the team’s track record. The same group is also responsible for $MELANIA, another politically-themed token. Just a month ago, a large unlock for $MELANIA took place, and on-chain data shows the team dumped a big portion of their newly released tokens on the open market.

The patterns are similar, and the outcome for $TRUMP might follow the same path.