As the TRUMP token nears a massive $520 million unlock in July, questions loom about its true role as a gauge of political momentum - and whether it will serve as a litmus test for Donald Trump’s influence and his backing of digital currencies.
The TRUMP token, which launched amid the political fervor of former President Donald Trump’s brand, was initially hyped as a revolutionary political cryptocurrency. It was touted by its creators and enthusiasts as a reflection of Trump’s massive supporter base, with the token serving as both a symbol and a method for his followers to engage in the world of crypto.
The launch of the TRUMP token was part of a broader trend of political figures and celebrities exploring the memecoin phenomenon, with other figures like Elon Musk also dabbling in the meme-based crypto space.
Initially, the token’s price surged as high as $73 per coin in January, but the excitement has since fizzled. As of June 2025, the TRUMP token has plummeted by 85%, now trading at around $10.36 - a sharp decline from its peak. In the wake of the initial hype, the token has faced criticism for its volatile performance, raising concerns about its long-term viability.
Despite the steep decline, Trump’s camp has continued to promote the memecoin as a key component of his digital strategy. Most recently, the Trump family-backed platform, World Liberty Financial, made waves by announcing that it would acquire a substantial portion of the TRUMP tokens. On June 6, Eric Trump shared on X that WLF would be acquiring a “substantial amount” of TRUMP coins as part of its long-term treasury. The announcement briefly lifted the price by 6.4%, but the spike was short-lived, and the token quickly retraced to its previous levels.
The news raised eyebrows across the crypto community. Some commentators were disappointed by the muted price reaction, suggesting that the lack of a more robust market response could indicate waning confidence in the project. “The coin hasn’t pumped on this news - this is not a good sign,” remarked one crypto analyst, further adding to the uncertainty surrounding the token’s future.
In addition to the price struggles, the TRUMP token faces a significant upcoming event in the form of a massive unlock. Scheduled for July 18, approximately 25% of the TRUMP token’s current circulating supply - equating to about 50 million tokens valued at over $520 million - will be released into the market. The substantial influx of tokens has the potential to put further downward pressure on the token’s price, especially if the demand does not increase proportionally.
The $520 Million Unlock: What’s at Stake?
The upcoming $520 million unlock is a critical moment for the TRUMP token. According to on-chain data from Tokenomist, only 26.48% of the TRUMP token’s total supply has been unlocked so far, with a staggering 73.52% still locked and awaiting release. When the unlock occurs in July, it will flood the market with new tokens, a situation that could lead to increased sell-offs unless the token can manage to attract new buyers at a sufficient rate to balance the market dynamics.
For those involved in the TRUMP token’s ecosystem, the unlock represents both an opportunity and a potential risk. Proponents of the token, including members of Trump’s inner circle, have hoped that the acquisition by WLF will help stabilize the market. However, the token’s performance during and after the unlock will be a telling indicator of its future.
Some analysts have drawn parallels between the TRUMP token and other memecoins like Dogecoin and Shiba Inu, noting that while memecoins can experience periods of explosive growth, their value is often highly speculative and dependent on hype rather than fundamental backing. In the case of TRUMP, the unlock could be a test of whether the token can rise above the speculative volatility and become a more stable asset - or if it will fade into obscurity.
Memecoins as Public Sentiment Gauges
One of the central narratives surrounding the TRUMP token is its supposed role as a barometer for public sentiment. Trump himself has suggested that his memecoin serves as a measure of his political momentum. In a post on Truth Social, he shared an article from Newsmax discussing how the TRUMP token’s performance reflects the public’s views on his leadership. This idea aligns with broader crypto industry commentary that links the success of memecoins to public enthusiasm for political figures.
Notably, Animoca Brands co-founder Yat Siu had previously mentioned that the rise of the TRUMP token was driven by both hype and novelty. However, he also speculated that the token could eventually serve as a tool to gauge broader public sentiment toward Trump’s presidency and political agenda. While this notion holds some merit in theory, the token’s current market performance challenges its potential as a reliable sentiment gauge.
The disconnect between Trump’s political rhetoric and the TRUMP token’s market performance is evident. As the token’s value has dwindled, some investors and analysts have questioned whether the token can truly reflect political momentum when it seems increasingly divorced from the broader political landscape.
Musk’s Bitcoin Gambit and the Battle for Crypto Dominance
In the background of the TRUMP token’s struggles, another high-profile figure has made waves in the world of cryptocurrency: Elon Musk. The Tesla CEO has long been an advocate for cryptocurrency, particularly Bitcoin. However, his relationship with the crypto world has been tumultuous, with Musk’s comments about Bitcoin’s environmental impact in 2021 leading to a reversal of Tesla’s decision to accept the cryptocurrency as payment.
Now, with Musk’s feud with Trump escalating, the Bitcoin community is urging Musk to “go all in on Bitcoin” to outmaneuver the former president in the battle for financial dominance.
Samson Mow, founder of JAN3, has been vocal in his calls for Musk to adopt a Bitcoin treasury strategy, similar to the one that has been successful for other companies and countries. According to Mow, Musk should start accepting Bitcoin payments for Tesla and build up a Bitcoin treasury to solidify his position as a key player in the crypto world.
Musk’s feud with Trump has intensified over the past few weeks, with the two trading public insults on social media. Musk has been critical of Trump’s tax policies and his handling of global tariffs, while Trump has suggested that terminating Musk’s government subsidies could save billions of dollars. As the political battle plays out, the cryptocurrency world is watching closely to see how Musk’s actions might influence the broader crypto landscape.
Mow’s call for Musk to embrace Bitcoin fully is rooted in the belief that adopting a “hard money standard” through Bitcoin would provide Musk with a strategic advantage in the ongoing political and economic struggle. For Musk, aligning with Bitcoin could offer both financial and ideological leverage, positioning him as a proponent of decentralized finance in the face of political opposition.
The Future of Trump’s Memecoin and the Crypto-Presidential Saga
For Trump, the memecoin may serve as a tool for measuring political sentiment and rallying his base, but its long-term success is far from certain. Whether the token can recover from its steep decline in price or whether it will fade into obscurity will largely depend on how well it can attract real demand in the market.
For Musk, the question is whether he will use his vast resources to fully embrace Bitcoin and solidify his position as a leader in the crypto space, or if his focus will remain divided between Tesla, SpaceX, and his other ventures. As the two figures continue to vie for influence in the world of finance and politics, the role of cryptocurrency in shaping their futures will be one of the most fascinating narratives to follow.
In the coming months, the fate of Trump’s memecoin and Musk’s potential Bitcoin strategy will offer valuable insights into the evolving relationship between politics and cryptocurrency. The unlock event, coupled with Musk’s ongoing moves, will be pivotal in determining whether the political and financial ideologies that underpinned these memecoins will continue to thrive or if they will ultimately collapse under the weight of market realities.