Trump's meme coin TRUMP will usher in a large-scale token unlock next week. On April 18, 40 million tokens will be unlocked. The project team will receive $320 million worth of tokens, accounting for about 20% of the circulating supply. If the unlocked tokens are sold on the open market, the supply-to-liquidity ratio will be seriously unbalanced, which may lead to further pressure on the price. Since its launch on January 18, the recent TRUMP token price hit $7.14, and the current price is $8. The value has shrunk by 83%. According to Dune data, the number of TRUMP token holders has dropped from 817,000 at the time of launch to 637,000, and only 12,000 wallets currently hold more than $1,000 in TRUMP tokens, a significant decrease from 143,000 on January 19. Token unlocks are usually bearish events, but sometimes the market digests expectations ahead of time, causing prices to fall to new lows before unlocking and rebound slightly after unlocking. It is uncertain whether the Trump team will sell the unlocked tokens, but if it is sold in the open market, the price will be under pressure in the short term. The 2% market depth indicator shows that the current liquidity level of 980,000 to 2 million dollars cannot withstand the selling pressure of 320 million dollars. The meme craze is gradually dissipating, and the total market value of meme tokens has plummeted from $119 billion in December last year to the current $45 billion.