SquidGrow’s price has dropped by 18% since hitting a new high on September 15, with its 24-hour price hovering just above $0.028. This recent decline has taken the SquidGrow (SQGROW) meme coin to lows of $0.025, marking an 18% fall from its peak of $0.034.
The meme coin, originally launched on Binance Smart Chain and recently migrated to Ethereum, saw a sharp price drop after the migration. The community, which promotes SquidGrow as a utility-driven project blending meme culture with multiple revenue streams, has watched the token touch its all-time low. However, there are signs of a possible price retest of $0.028, signaling a potential recovery.
Market Sentiment and Impact on SquidGrow
The recent dip in SquidGrow’s price reflects broader market trends, as negative sentiment across the crypto market impacted several cryptocurrencies. Bitcoin, for example, remained below $58,000 as the market awaited the Federal Reserve’s anticipated 25 basis points interest rate cut. Despite some major coins seeing gains during this period, SquidGrow did not experience a similar rise.
Migration to Ethereum and LBank Delisting
SquidGrow’s sharp price decline followed its migration from Binance Smart Chain to Ethereum. While this move initially resulted in a price surge, subsequent developments, such as crypto trading platform LBank announcing the delisting of SQGROW, have weighed on the token. LBank notified users that it would no longer support SquidGrow deposits and trading, urging users to withdraw their assets starting on September 15.
This delisting adds further pressure to SquidGrow, although the community remains optimistic about the project’s long-term potential.
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