The Great Sentiment Shift! (On-Chain Analysis) 📈 If you’ve been watching $PEPE, something major just happened behind the scenes. While everyone watches the price action, the NUPL (Net Unrealized Profit/Loss) metric is signaling a massive shift in market psychology. 📊 What is NUPL Telling Us? NUPL measures the total amount of profit or loss held by all coins in circulation. Looking at the latest data: Exit from Capitulation (Red Zone): 🔴 $PEPE has officially climbed out of the "Pain Zone." This is where the most fearful selling happens. Entering the "Hope – Fear" Phase (Orange Zone): 🟠 We are now crossing into a transitional stage. This vertical move suggests that a huge portion of the supply has moved back into unrealized profit. Macro Trend Reversal: 🔄 When NUPL bounces sharply like this, it often marks the end of a downtrend and the beginning of a new bullish cycle. The "weak hands" have been flushed out, and current holders are feeling much more confident. 🔍 Why This Matters for You: When investors are in profit, the "sell pressure" from panic disappears. Instead, we see "diamond hands" holding for higher targets. However, as we approach the "Optimism" zone, keep an eye on potential profit-taking. 💭 Your Strategy? The trend is clearly shifting from red to green. Is this the start of a legendary run for Pepe, or do you expect a cool-down? #pepe $alts