When the world was obsessing over Netflix’s hit series Squid Game, the crypto space couldn't resist jumping on the bandwagon. Someone, with a brilliant (and slightly mischievous) sense of humor, decided the show's name would make for a perfect cryptocurrency. Enter Squid Game (SQUID)—one of the most absurd and yet highly educational stories in the world of crypto.
The Show Begins: The Rise of SQUID Token
In October 2021, as the series topped global streaming charts, a new cryptocurrency called SQUID made headlines. Its creators claimed it would be the foundation of a unique online game inspired by the show. Participants were promised enormous rewards for winning, but with a catch: you had to pay an entry fee in SQUID tokens.
Crypto enthusiasts worldwide, captivated by the hype surrounding the show, started buying SQUID en masse. Its price skyrocketed like it was destined for the moon, climbing from mere cents to a jaw-dropping $2,861 per token in just a few days.
The Game Begins: Players Realize the Rules Too Late
From the outset, SQUID raised several red flags that many investors chose to ignore:
- You couldn’t sell the tokens: Holders of SQUID discovered that while they could buy the coin, selling it was impossible—a glaringly suspicious limitation.
- A poorly written website: The project’s website was riddled with grammatical errors, suggesting that the creators had not only skipped watching the show but also didn’t bother proofreading.
- No legitimate team: The so-called "team" behind the project was completely anonymous, and their profile pictures turned out to be stock photos.
Despite all this, people kept throwing money into the project. Why? Greed. Nobody wanted to miss out on “the next Dogecoin.”
The Finale: The Creators Vanish
On November 1, 2021, the inevitable happened: a classic rug pull, where the project’s creators suddenly drained all the funds and vanished into thin air. The price of SQUID plummeted from $2,861 to zero within seconds.
The scammers walked away with an estimated $3.3 million, leaving thousands of investors with empty wallets and the bitter realization: I knew this was a scam, but I still bought in.
The Humor in the Tragedy
Here are some lessons to take away from this fiasco:
- Stick to the real Squid Game: The crypto market is already a survival game of sorts, but just like in the series, most players lose because they don’t read the rules.
- Do your research: If a token promises “millions for a few clicks,” rest assured the only winners are the project’s creators.
- Greed is the ultimate enemy: Remember, if you can’t sell what you buy, you’re just a spectator—not a player.
Epilogue
Today, the SQUID token story serves as a cautionary tale about how easy it is to get swept up in hype and lose money. Unlike the show, though, there are no winners here.
So, if you ever come across a token called Squid Game 2.0, think twice before buying in. In the world of crypto, the real high-stakes games don’t happen on Netflix but in your wallet. And it’s up to you whether you’ll be a player or just another victim of the hype.
As they say: “Never trust tokens inspired by TV shows.”
The Fate of Squid Game (SQUID) in 2025: Hype, Hope, or History?
In 2025, the Squid Game (SQUID) cryptocurrency continues to attract interest from investors and analysts. Despite the skepticism surrounding its initial launch, some forecasts indicate potential price growth for the token.
According to data from CoinCodex, it is expected that in 2025, the price of SQUID will range between $0.006116 and $0.028932, with an average annual price of approximately $0.017524.
Other sources, such as BeInCrypto, predict that by 2025, the price of SQUID could reach $0.0005 with a possible maximum of ₽$0.00057.
However, some forecasts are significantly more optimistic. For example, BitScreener suggests that by 2025, the price of SQUID could increase by 16,913.92%, reaching $0.0003212.
Despite these predictions, it is essential to note that the cryptocurrency market is highly volatile, and the accuracy of such forecasts is often limited. Investors are advised to carefully assess the risks and not rely solely on predictions when making investment decisions.