The Squid Game (SQUID) token skyrocketed 910% over the past 24 hours, according to CoinMarketCap. Despite the dramatic surge, analysts caution that it remains a high-risk and speculative asset that could lead to significant investor losses.
The token has been trading for nearly a year on Uniswap, yet throughout its existence, its price has repeatedly shown signs of manipulation. Experts warn that the current price action looks artificially driven, echoing the same patterns seen before major token crashes.
Anonymous team and fake branding linked to the Netflix series
SQUID’s social media presence is minimal, with low engagement and a small number of followers. The development team remains fully anonymous, offering no proof of legitimacy, no roadmap, and no technical documentation.
SQUID price chart. Source: TradingView
Furthermore, despite borrowing its name from the globally popular Netflix series Squid Game, the token has no official connection to the show, its producers, or Netflix itself. Analysts emphasize that this is a common tactic among scam projects, using recognizable brands to lure unsuspecting investors into buying worthless or fraudulent tokens.
Classic pump-and-dump pattern emerging
Market analysts note that SQUID’s trading chart exhibits clear pump-and-dump dynamics, characterized by steep vertical rises followed by erratic trading behavior. The anonymous team may be artificially inflating the price to attract new buyers, planning to dump their tokens once liquidity builds. This exact strategy was used in the original 2021 Squid Game token collapse, which left thousands of investors with losses exceeding 99%. Experts urge extreme caution, warning that SQUID’s recent rally is almost certainly artificial and could end in another massive crash.
Recently we wrote that the BOSagora (BOA) token rose 90%. Despite its longevity in the crypto market—over five years of trading on major exchanges—experts warn that the latest price move looks artificial and highly speculative.
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