Fake Squid Game token rises despite several risk factors
Despite a sudden 460% surge in the past 24 hours, the Squid Game (SQUID) token appears to be a highly risky and potentially deceptive investment, with growing signs that investors could be misled or lose their funds entirely.
The token climbed to $0.02, according to CoinMarketCap, but trading volume remains low, casting serious doubt on the legitimacy of the rally. SQUID is only listed on Uniswap, where low liquidity and lack of oversight often enable market manipulation. The absence of real demand or verified listings makes the price jump appear artificial and unsustainable. Analysts warn that such rallies, without fundamentals, tend to crash abruptly. For cautious investors, the risks far outweigh any speculative upside.
Fake association with the series and inactive online presence
Although the token uses the “Squid Game” name, it has no official connection to Netflix or the creators of the show. CoinMarketCap has tagged SQUID with a “token sniffer” label—often applied to projects with suspicious or unaudited smart contracts. The project’s social media accounts are poorly maintained, with very few followers and almost no engagement from real users.
SQUID price chart. Source: CoinMarketCap
No team members are publicly identified, and there is no whitepaper or working product. These factors paint a picture of a low-effort project created primarily to capitalize on the popularity of a global franchise. Branding alone cannot support long-term investor interest, especially when trust is absent.
Analysts suspect the token was created for a quick cash grab
Given the anonymity of the team, lack of fundamentals, and unauthorized use of a well-known brand, experts believe SQUID was likely created to profit from short-term hype. These types of tokens are typically launched with aggressive naming strategies to attract attention and draw in unsuspecting retail traders. Once the price inflates, insiders often exit quietly, leaving late buyers with worthless tokens. Similar meme-style scams have proliferated in recent years, especially around trending pop culture themes. Traders are strongly advised to avoid SQUID entirely or exit quickly if already exposed. The risks far outweigh any potential reward in this setup.
Recently we wrote that fake token PUMP FUN (PUMP) recorded a sharp 385% gain in the last 24 hours, rising to $0.0002, according to CoinMarketCap.
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