$TRUMP has gained 0.52% over the past 24 hours, though price action shows signs of stabilization following earlier selling pressure. The recent uptick appears tied to growing speculation around potential crypto-friendly regulatory frameworks—a narrative that's been gaining traction in the market.

From a supply perspective, the token's recent unlock of $24.8M has been absorbed reasonably well, but there's a more substantial challenge looming: approximately 800M tokens are still scheduled to unlock ahead. This overhang could represent downside pressure if not carefully managed by the project.

Technically, RSI is hovering around 30, signaling oversold conditions—a classic setup for bounce trades. The current price action suggests buyers are testing support levels, though conviction remains mixed given the regulatory narrative and token supply dynamics interplay.

Traders should monitor whether this oversold bounce holds or if it becomes another sell-the-rip scenario given the upcoming unlock schedule.