In bigger timeframe, this week sponge fill up the Fair Value Gap where the Resistance become support. The popular word is retest. There area where the trader plan to entry for bigger profit.
Meanwhile, sponge reach the equilibrium zone where there is big demand zone (buy zone) for trader to entry. Since Bonk become king meme with explode 20,000% increment, lot of trader search next meme coin that in the good entry zone.
In shorter Time frame, (4H), Sponge is the first meme token that reach oversold area with the lowest market cap at 17M usd compare to other meme competitor which already break 100M usd market cap.
Meanwhile, sponge reach the equilibrium zone where there is big demand zone (buy zone) for trader to entry. Since Bonk become king meme with explode 20,000% increment, lot of trader search next meme coin that in the good entry zone.
In shorter Time frame, (4H), Sponge is the first meme token that reach oversold area with the lowest market cap at 17M usd compare to other meme competitor which already break 100M usd market cap.