After a sudden surge in the direction of the top of final week and early Monday morning that noticed its worth get above $2,800 regardless of a number of rip-off warnings, Squid Game Token (SQUID) has lastly taken a bow.
Twitter was chargeable for nailing the final nail to the coffin by flagging the coin’s Twitter account which despatched the token’s worth plummeting beneath $0.01.
Twitter flagged the “official” Squid Game token accounts on the social media platform as suspicious.
It solely took minutes for SQUID to drop 99.99%
It is reported that Twitter first flagged and restricted the unique Squid Game token, which has over 70K subscribers, after which the cash builders tried to run different accounts that have been additionally closed by Twitter.
It solely took a matter of minutes for SQUID’s worth to crash from about $2,861 to beneath $1.
Multiple rip-off warnings earlier than the crash
From the very onset of the Squid Game Token, the cryptocurrency neighborhood had been very suspicious with most seeing it as a rip-off. To begin with the cryptocurrency has faux founders.
On Friday, when the coin was on fireplace because it skyrocketed to a brand new excessive, CoinGecko co-founder stated that it was “more than likely a rip-off,” and famous that CoinGecko didn’t checklist it because it didn’t meet the itemizing standards. At the time SQUID was buying and selling at about $5.
Amazingly, regardless of the a number of rip-off indicators, the coin continued to rise astronomically to hit $90 as of the beginning of Monday earlier than skyrocketing to commerce above $2,800 in a matter of minutes early Monday morning.
There have been experiences that SQUID token was utilizing “anti-dumping know-how” that prevented holders from promoting the token and this didn’t hit most as being a rip-off.
A whole lot of my normie mates purchased this $SQUID sport token and could not promote i (“anti-dump function”)
Now look what occurred pic.twitter.com/wq5egYBKFa
— Friend of Peach (@WaymanCap) November 1, 2021