Donald Trump is seemingly embracing his official memecoin, recognizing it as a tool to gauge public sentiment, even as a substantial $520 million token unlock looms. This perspective was highlighted when Trump shared a Newsmax article on his Truth Social platform, which discussed the cryptocurrency token's potential to reflect political momentum, a view echoed by some within the crypto industry.
However, the market performance of the "Official Trump" (TRUMP) memecoin presents a more complex picture. As of June 7, 2025, the token is trading around $10, a significant 85% drop from its all-time high of $73 in January. This decline raises questions about the reliability of the memecoin as a true barometer of public sentiment. Further complicating the matter is a scheduled token unlock in July, which could exert additional downward pressure on the token's price.
According to data compiled by Tokenomist, only 26.48% of the TRUMP token's total supply has been unlocked, leaving 73.52% – approximately 735 million tokens – yet to enter circulation. On July 18, a substantial 50 million tokens, representing 25% of the current circulating supply and valued at over $520 million, will be unlocked. The influx of such a large number of tokens could potentially depress the token's price, particularly if demand doesn't increase proportionally.
In an attempt to bolster market confidence ahead of the unlock, Trump's son, Eric Trump, announced on June 7 that World Liberty Financial (WLF), a crypto company backed by the Trump family, plans to acquire a "substantial amount" of the memecoin tokens. However, this announcement did not trigger a significant price reaction, which some commentators interpreted as a concerning sign.
Whether investors absorb the upcoming unlock or react with a sell-off could serve as a key indicator of broader political enthusiasm toward Trump's leadership. The use of memecoins as a tool to measure public sentiment is a novel concept, but the TRUMP token's volatile market behavior suggests that it may not be a straightforward metric.
Notably, in May 2025, the TRUMP memecoin experienced a surge, climbing over 10% in 24 hours, fueled by anticipation for a private dinner hosted by Donald Trump for the top 220 holders of the TRUMP token. Tron Network founder Justin Sun also revealed that he was the largest holder of the TRUMP memecoin, further amplifying buying pressure. At that time, technical indicators suggested strong buying pressure, with the token potentially rising further.
However, more recently, in early June 2025, the TRUMP token faced increasing sell-side pressure. It tested the $10.00 support level, reflecting a sluggish sentiment. The dinner itself, despite the initial hype, was characterized by negative sentiment, with protesters demanding accountability from President Trump's family crypto projects.
