SquidGrow crypto price down 18% as top coins seek gains

SquidGrow price is down 18% since reaching a new high on Sep. 15, with the 24-hour price fluctuating just above $0.028.

The SquidGrow meme coin, which recently moved its token from the Binance Smart Chain to a new contract on the Ethereum (ETH) network, has fallen sharply to lows of $0.025. The losses have caused the SQGROW token to touch a new all-time low, with the price down 18% from its peak of $0.034 on September 15.

At press time, SquidGrow’s price has been negative over the past 24 hours, although it is signaling a potential rally as the retest of the $0.028 level is imminent.

Could the price of SquidGrow reflect the prices of other cryptocurrencies?

Launched in June 2022, meme coin SquidGrow was introduced by Shibtoshi, a Shiba Inu (SHIB) whale. It is a meme coin that the community now claims is a utility-focused project that blends meme culture with various revenue streams.

SquidGrow’s price drop largely mirrored the movement in the crypto market, with mainly negative sentiment keeping Bitcoin (BTC) below $58,000. However, while top cryptocurrencies are rallying ahead of the Federal Reserve’s projected 25 basis point interest rate cut, SQGROW’s price has not risen in a similar manner.

The pressure continues after SquidGrow recorded a sharp rally following its successful migration to the Ethereum chain.

However, a notable development after the upgrade is that crypto trading platform LBank announced that SQUIDGROW will be delisted. LBank informed its users that it will not support SQGROW deposits and trading, and users are asked to withdraw their assets starting September 15.