Game over – Squid Game token reset
In recent weeks, the Squid Game series has been all over the world. It has gained considerable popularity on the well-known portal with Netflix series. At this point, Squid Game. For some time now, we have heard information that a token with this name has also been created. Honestly, we didn’t even get to know this project in more detail, and it turned out to be a complete scam. On November 1, in a split second, the price dropped from $ 2,800 to virtually 0.
This short and spectacular story began around October 26, and this token began trading at around $ 0.019. The next day, the price exceeded $ 2 for one SQUID, which meant very large increases. The price grew rapidly and on October 29 it has already surpassed $ 10 USD. Certainly, such a dynamics of growth aroused the growing interest of investors. This, in turn, probably translated into even greater media hype and interest in this token. As a result, on November 1, the price increased to over $ 2,800 for one SQUID, which meant a significant market capitalization of over $ 2 billion. However, a moment later the price dropped in a fraction of a second to the level at the beginning of trading, i.e. USD 0.003.
You can see the reactions to this turn of events in this video recorded live
In a slightly later comment, the creators of the token stated that they were leaving the project due to the increasing stress associated with it. They announced that they were fending off attempts at hacking attacks, and that the sharp drop in price made it impossible to continue working on the project. In our opinion, however, it was probably just a regular SCAM of these people. It was probably them, on the hill, who got rid of all their tokens, and now they have disappeared without a trace. Remember in the world of cryptocurrencies and tokens you have to be very careful and not fall for such projects.