The TRUMP token, a memecoin linked to Donald Trump and based on Solana, saw its daily trading volume exceed $1 billion after the former president mentioned it. Despite this spike, the token's price has drastically fallen since its debut, reflecting investor skepticism.

Trump's recent endorsement on TruthSocial increased the token's price by 10%, now trading around $11.8. However, concerns remain about a possible sell-off as 40 million tokens are set to be unlocked in April, which could add pressure.

Reports indicate that a significant portion of TRUMP and MELANIA tokens is held by a small number of wallets, highlighting the concentrated distribution among crypto whales.