Users Unable to Clear Squid Game Token Amid 45,000% Peer BTC Gain
Users unable to liquidate the Squid Game token in the middle of a 45,000% win
SQUID, a new coin inspired by the hit Netflix (NASDAQ 🙂 series, Squid Game, posted a 45,000% gain just days after launching earlier this week, but its investors were unable to sell their assets. .
In response to the development, leading cryptocurrency tracking website CoinMarketCap (CMC) has left a warning to SQUID token investors on its website.
We have received several reports that users are unable to sell this token in PancakeSwap. Please use caution when negotiating.
According to CMC, PancakeSwap is the only platform listed by SQUID. The token is currently trading at $ 5.71 and is among the top winners on CoinMarketCap, with a daily trading volume of $ 7 million.
Amid SQUID’s booming status plus reports of users’ inability to sell the token, the crypto community is starting to suspect that the token is a scam.
A Twitter user (NYSE 🙂 (Crypto Tyrion) noticed that the SQUID founders mentioned on their website are not registered on the large professional network LinkedIn. He further judged it to be a “100% all-in draw,” based on the fact that the Squid Game token blocked Twitter comments while being inactive on the Telegram and Discord channels.
Telegram group closed: ââââDiscord closed: ââââ Comments on blocked tweets: ââââNo Linkedin founder: ââââCNBC article to pump: ââââSCAM CONFIRMED @ IncomeSharks @jaynemesis
– Crypto Tyrion (@Cryptotyrion) October 29, 2021
Other observers have also pointed to problems apparent in the Squid Game token white paper, such as poor grammar, spelling mistakes, and somewhat “unverifiable” claims.
Scamadviser.com, a popular scam reviewer, rated the token as fake with a trust score of 45 out of 100.
Meanwhile, CMC released a statement suggesting that the bullish rally in SQUID could imply that playing the Squid game as described in the project’s whitepaper could be unaffordable for most participants due to the token holding requirements.
CoinGecko which is CMC’s main rival has been silent on the SQUID topic so far, and according to co-founder Bobby Ong, âthis token did not meet our listing criteria so it will not be listed on CoinGecko. It is most likely a scam. “
He also pointed out that CoinGecko is not an official partner of the token unlike the information on the token website.
This is certainly not true and we are not a partner or affiliate of Squid Game.
The token whitepaper states that âSQUID’s liquidity will be locked in for three years on DxSale, preventing any invisible and immediate changes to SQUID’s liquidity pool. The unlock date is October 20, 2024, âand some media like CNBC reported that the Squid Game white paper spoke ofâ anti-dumping technology âthat prevents people from selling their coins.
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