President Donald Trump’s personally endorsed memecoin surged over the weekend, despite expectations that its price would tumble as tens of thousands of fresh tokens were released to project insiders.
$Trump, a memecoin launched by Trump in the lead up to his second inauguration, has gained 10% since Friday, when 40 million additional tokens were to be released into circulation. The event, known as a token unlock, was expected to depress the memecoin’s price by increasing its supply but it seems to have had the opposite effect.
