Twitter flags Squid Game token accounts as price crashes

The Squid Game token was surging despite multiple scam warnings and topped above $2,800 before plummeting to less than $0.01. Read the full article by: Helen Partz

Key Points:

• By the end of last week we saw many meme tokens, including Shib, Baby Doge, Doge, and Floki Inu, all take huge price spikes and garner a social media frenzy.

• Squid Game (SQUID) token was also apart of that as it took a price spike of 3000% + in just a couple of days. The token based off the popular Netflix series was advertised as a play-to-earn where token holders would lock up their funds and play the games from the show. The last man standing would get all the funds in the pot.

• It was then reported on Friday that SQUID holders were not able to sell or move their tokens from the wallet after they were purchased and today we can see the rug was pulled on all of them. The price went from a high of over $2,000, just this morning, and now sits below $.003 cents.

• Twitter has suspended all official accounts as well as reports that the official SQUID token website is down which all but ensures that this was a massive scam. Scammers also hit Olympus DAO investors for $53 Million this weekend at the tail end of what was a really strong “Uptober” for the rest of the crypto market.

• While some meme tokens are fun and not inherently a scam, like Doge for example, it is still always important to do your own research and never invest more than you are capable of losing.