Official Trump (TRUMP) Price Surges 12%, Bears Sidelined as Whales Load Up Ahead of Dinner

Key Takeaways

• The TRUMP memecoin jumped 12% just a day before the exclusive holders’ dinner, brushing off “sell the news” concerns.
• On-chain data shows TRUMPSTH-NUPL sits in the “belief” zone, signaling bullish momentum without nearing euphoria.
• Whale wallets acquired millions of the TRUMP memecoin, indicating strong confidence ahead of the high-profile event.
• Trading volume surged from under $600 million to $1.77 billion, confirming rising interest and a potential extended upside.
• With volume climbing and sentiment positive, TRUMP’s price could breach the $16.44 resistance and rally toward $20.

The Official Trump (TRUMP) memecoin has refused to fold ahead of Thursday’s top holders’ exclusive dinner with U.S. President Donald Trump. Despite weeks of speculation that the event would trigger a “sell the news” dip, TRUMP has defied expectations with just one day to go.

In the last 24 hours, the token surged roughly 12%, making it the best-performing crypto among the top 100.

But will TRUMP’s price action continue to print gains? Let’s find out.

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.

Apart from short-term holders, whales are also jumping in ahead of the exclusive dinner. Lookonchain data reveals that fresh wallets have been scooping up massive amounts of the memecoin.

One address withdrew $2.93 million worth of TRUMP, another spent $2 million, and a third accumulated 203,229 tokens valued at $2.64 million.

These large inflows mostly set the stage for explosive price action. If the accumulation trend holds, TRUMP could be gearing up for a major surge.

Breakout Accompanied by $1.7 Billion Volume

In line with this, the volume of memecoin has also climbed. On Tuesday, May 20, TRUMP’s trading volume was less than $600 million.

As of this writing, it has increased to $1.77 billion, indicating rising interest in the token. From a trading perspective, the rise in volume alongside the TRUMP memecoin price indicates strength to the upside.

The volume could exceed $2 billion before the dinner, which could raise TRUMP’s market value.

TRUMP Price Analysis: $20 Possible

From a technical perspective, CCN observed that TRUMP’s price has broken out of a symmetrical triangle on the 4-hour chart.

A symmetrical triangle appears when the price consolidates with lower highs and higher lows, creating a triangle shape where two trendlines converge at a roughly equal slope.

Amid this breakout, the Moving Average Convergence Divergence (MACD) has flashed a bullish crossover with a positive reading. Besides that, the Money Flow Index (MFI) has climbed to 70.44, indicating increasing buying pressure.

Should this trend continue, the TRUMP memecoin price could breach the resistance at $16.44. If validated, the cryptocurrency might reach $20 soon.

On the other hand, if momentum turns bullish, TRUMP could drop below the triangle’s upper trendline.

In that scenario, the cryptocurrency’s market value might slide to $12.89. Should bears take control, the downturn could accelerate to $10.69.