Crypto Contest June 17: Sponge

Sponge (Poloniex: SPONGEUSDT) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com(log scale))

Elliott Wave Analysis

In Elliott Wave terms, SPONGE began a red wave one advance on May 8. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked on May 9 and the red wave two (blue sub-waves a-b-c) correction ended on June 15. If this wave count is correct, SPONGE should be heading next towards the May 9 peak in the red wave three.

(Chart courtesy of Tradingview.com(log scale))

Funnymentals

Sponge is a zero-tax memecoin derived from, but not affiliated to, the beloved cartoon character SpongeBob SquarePants. You can find their tokenomics below.

(Sources: https://sponge.vip/)

How Will Sponge Trade?

Sponge (Poloniex: SPONGEUSDT) daily chart by Tradingview.

(Chart courtesy of Tradingview.com(log scale))

Prizes

I will be giving upvotes to the correct answers (posts only).

Rules

This poll will expire in one week. Only one vote per person.

Which one will happen first?

Please select one of the three choices and comment below

SPONGE will takeout the May 9 peak

SPONGE will drop below the May 8 low

SPONGE will stay in a trading range between the May 8 low and the May 9 peak until July 23