$TRUMP
🚨 TRUMP Surges Before Exclusive Holder Dinner 🚨
Over the weekend, CCN reported that while some top TRUMP holders expected at the dinner were selling, others were quietly accumulating. The split in sentiment made it tough to predict how the memecoin would move ahead of the event.
But bulls have taken control with today’s push above $14. According to data from Glassnode, the short-term sentiment around TRUMP suggests that the price might continue to rise.
Specifically, the on-chain analytic platform shows that the Short-Term Holder Net Unrealized Profit/Loss (STH-NUPL) is in the belief (green) zone. For those unfamiliar, the STH-NUPL assesses the behaviour of short-term investors who have accumulated a cryptocurrency within the last 155 days.
The metric tells whether this cohort is bullish or bearish on the crypto’s price action. Bearish sentiment occurs when the metric is in capitulation or fear.
Bullish sentiment, however, shows up when it is in the optimism or belief zone. Euphoria means that the price might be approaching a local top.
TRUMP sits firmly in the belief stage, indicating bullish momentum and suggesting there’s still room for the memecoin price to climb.