$ESP
Espresso ($ESP ) has been on an absolute wild ride today! While it shot up over 120% this morning, topping the Binance gainers list, we're now seeing a significant pullback.
After hitting highs around $0.087, ESP has dipped by ~28-30%, currently trading closer to $0.058. This kind of volatility is typical for new listings, especially with the "Seed Tag" warning from Binance.
What's Happening?
Much of this correction is attributed to:
Airdrop Sell-Off: A large portion of the 359 million ESP community airdrop tokens became liquid today, leading many recipients to take profits immediately.
Profit-Taking: Early investors and pre-market traders are locking in gains after the initial pump.
This is a classic example of "buy the rumor, sell the news" and post-listing profit-taking. It highlights why Due Diligence (DYOR) is crucial, especially with highly speculative assets.
What to Watch:
Keep an eye on the $0.055 - $0.057 zone for potential support. A break below that could signal further downside.
Stay safe out there, traders!
#ESP #CryptoCorrection #BinanceListing #AirdropSelloff #dyor