As a seasoned crypto investor with a knack for spotting potential in meme coins, I find myself intrigued by the recent performance of SquidGrow. Having witnessed the rise and fall of numerous digital assets, I’ve learned to read between the lines and interpret market fluctuations.
Since reaching a record high on September 15, SquidGrow’s price has dropped approximately 18%, currently hovering slightly above 0.028 dollars in the last 24 hours.
The SquidGrow meme coin, which recently migrated its token from the Binance Smart Chain to a new contract on the Ethereum (ETH) network, fell sharply to lows of $0.025. The losses saw the SQGROW token touch its all-time low, with the price down 18% from its peak of $0.034 on Sept. 15.
Despite SquidGrow’s cost staying below zero during the preceding 24 hours as I write this, it could indicate a promising upward trend if it tests the level of $0.028 again.
Can SquidGrow price mirror top coins?
Launched in June 2022, SquidGrow – a new meme coin – was presented by a prominent figure within the Shiba Inu (SHIB) community known as Shibtoshi. This meme coin is currently being touted as a project that combines meme culture with multiple income sources, and the community now considers it to be primarily utility-focused.
The price drop in SquidGrow largely followed the trend observed across the crypto market, with a significant influence coming from Bitcoin (BTC) staying below $58,000 due to negative sentiment. Interestingly, as top coins experienced growth in anticipation of the Federal Reserve’s projected 25 basis points interest rate cut, SQGROW’s price did not show a corresponding increase.
After SquidGrow experienced a significant surge in value, the increased demand continued even after it moved successfully onto the Ethereum network.
Following the update, a significant change came about as LBank, a prominent crypto trading platform, decided to remove SQUIDGROW from its listings. LBank has informed its users that they will no longer be able to deposit or trade SQGROW tokens starting from September 15, and are encouraged to withdraw their assets before this date.
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2024-09-17 21:54