Cryptocurrency analyst Ilya Sleptsov made noteworthy assessments ahead of the upcoming TRUMP memecoin unlock.
According to Sleptsov, a total of $830 million in tokens will be released at the launch on July 17. Additionally, a daily linear distribution of $6.4 million will begin on the same day.
The analyst noted that prior to this development, 18 days ago, the Trump team withdrew $20 million worth of TRUMP from the Meteora platform and sold it on exchanges, a development that wasn’t unprecedented. Sleptsov also noted that crypto billionaire Justin Sun had promised to buy $100 million worth of TRUMP and had already purchased at least $26.4 million of that amount. Of these purchases, $24.84 million came directly from the Trump team, while $1.57 million was purchased through Binance. He predicted that the remaining $74 million would likely be acquired OTC (over-the-counter) from unlocked token holders.
Sleptsov noted that investors who previously attended Trump’s VIP dinner have also largely sold their tokens. He also noted that World Liberty Financial’s imminent tradability of its WLFI token could draw liquidity away from the Trump memecoin.
Despite the community’s devotion to Trump and the TRUMP team’s habit of delivering positive news to the market, Sleptsov argued that the token supply is still excessive in current market conditions and that the TRUMP price could see significant drops in the coming weeks.
“Another delay in unlocking could have saved the token,” the analyst said, adding that the possibility is now low now that Justin Sun has publicly announced his acquisition plans.
*This is not investment advice.
