$TRUMP fell 3.1% on the day a new holder dinner was announced. The market shrugged at the news.
Decrypt reports that the TRUMP meme coin project will invite its top 185 holders to a gala dinner with President Trump on Nov. 22, two weeks after ethics disputes over his crypto interests helped stall the Clarity Act in the Senate.
My take: events like this are built to reward holding, so you would expect some buying. The data shows none. Price is 2.063, down 4.7% on the week and 8.4% under the 7-day high of 2.251. Volume is about 22.5M USDT, 0.95 times its 7-day average. No rush of buyers at all.
Yesterday I wrote that a slip under 2.10 would mean the earlier gain was just the market tide. That is where we are now. Hourly RSI is 46.2, neutral.
What would change my view: a move back above 2.251 on clearly higher volume. The level I watch below is the 7-day low at 1.931.
For a coin tied to one person, headlines like this matter less than whether new money shows up. So far it has not.
#TRUMP #MemeCoins
Decrypt reports that the TRUMP meme coin project will invite its top 185 holders to a gala dinner with President Trump on Nov. 22, two weeks after ethics disputes over his crypto interests helped stall the Clarity Act in the Senate.
My take: events like this are built to reward holding, so you would expect some buying. The data shows none. Price is 2.063, down 4.7% on the week and 8.4% under the 7-day high of 2.251. Volume is about 22.5M USDT, 0.95 times its 7-day average. No rush of buyers at all.
Yesterday I wrote that a slip under 2.10 would mean the earlier gain was just the market tide. That is where we are now. Hourly RSI is 46.2, neutral.
What would change my view: a move back above 2.251 on clearly higher volume. The level I watch below is the 7-day low at 1.931.
For a coin tied to one person, headlines like this matter less than whether new money shows up. So far it has not.
#TRUMP #MemeCoins
