Squid Game token crashes 99.99% from $2,861 to $0.003475, Twitter account gone - page 2.

Eureka_07

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Activity: 1750

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Binance #SWGT and CERTIK Audited

Also just saw this one on my facebook feed. From 230k% up last weeks to almost half cent now. The developers of this coin gained so much money from this scam.
It is trully dangerous to invest on something just base on its hype. Clearly the investors of this coin were just hyped since the Squid Game series were really famous recently until now.

Quote from: avikz on November 01, 2021, 01:38:05 PM

A complete madness is ongoing in the altcoin market right now which started by Elon and has now become a scammers' paradise. Any random tokens are getting listed on any random swaps and people are buying those craps. Squid game was one of those utter craps. I am happy that it crashed and people loat money. Because people need to understand that these tokens are pure gambling and nothing else. People need to learn the hard way! Craps can't make you a millionaire for sure.

Now even you will find clones of Shiba Inu coins flooding the market.

Lesson learned for them, but I think we shouldn't be happy for their lost.

samuraijin

sr. member

Activity: 1624

Merit: 261

Vave.com - Crypto Casino

that's why beginners need to research this especially because of FOMO, I didn't tell Shiba which is currently popular, there are even a lot of tokens like this, this is only a little that has been revealed there are still many fraudulent projects like this just by selling popular names , currently facebook is changing the name of META maybe there is a name META token in the near future and people keep buying it, it looks so stupid then they come to this forum and say crypto is a scam

PrimeNumber7

copper member

Activity: 1624

Merit: 1899

Amazon Prime Member #7

Quote from: PercT4b on November 01, 2021, 01:13:21 PM

Quote from: TimeTeller on November 01, 2021, 01:30:33 PM

Quote from: PrimeNumber7 on November 01, 2021, 09:34:17 AM

I read that the smart contract used to create that token was setup so that only certain people were able to sell. I understand that only the creators were able to sell and those that bought after a certain time could buy but not sell.

My guess is the creators were selling slowly as the price was going up, and decided to eventually sell as much as they could once the price got sufficiently high.

Do you have reference for this, regarding the section where you can see from their smart contract about the limits of who can only sell?
For sure, they only allow the team members who can sell their crap token.
Because we will see those addresses involved if they still have their tokens left.

The basis for my statement was this article.

You can read the smart contract on bytecode that is on etherscan. The contract is 6800 lines, and I have not reviewed it.

otundebis

full member

Activity: 630

Merit: 100

One of the way to suspect a scam project is to critically appraised their activities and objectives to see if such project is trying to leverage on a popular trend, name or something that mean something to people. Squid game gained popularity through it's series on Netflix! How on earth do people think such project will replicate what happened in the movie in Cryptocurrency? These are just red flags that should not be ignore if you don't want to get rugged!

avikz

legendary

Activity: 3080

Merit: 1500

A complete madness is ongoing in the altcoin market right now which started by Elon and has now become a scammers' paradise. Any random tokens are getting listed on any random swaps and people are buying those craps. Squid game was one of those utter craps. I am happy that it crashed and people loat money. Because people need to understand that these tokens are pure gambling and nothing else. People need to learn the hard way! Craps can't make you a millionaire for sure.

Now even you will find clones of Shiba Inu coins flooding the market.

Ararbermas

sr. member

Activity: 1988

Merit: 283

Clearly that new token that based on the squidgame movie is for hype only, i saw that token really flying like unstoppable but i know it won't last, but yep it's very unfair because i missed the opportunity from it to gain quick profits, just imagine it was listed only in few exchanges not yet on binance but how the way it jumped to the highest price in just short period of time is really amazing..but at this point for sure it will end up like that.. I mean it's now in the critical situation. Grin

i will never ride on it unless if it show a potential especially for quick profits. Lol

TimeTeller

hero member

Activity: 2716

Merit: 588

Quote from: cryptoaddictchie on November 01, 2021, 10:20:23 AM

Fuck no? The price hit 2.8k per token then go down to 0.003? Damn if this is real then those who got hyped by it during the high time are probably in deep loss now. Not to mentioned if whales played it as well and got cooked. This is the worst price dive that I've seen and witness for this year.

Quote from: Cookdata on November 01, 2021, 09:45:20 AM

There was no audit report for the project, but the team strategy was on track and being confidently implemented while investors were busy buying.

Confidently implemented but why this happened?

What can you expect from a hollow project which used the name of the popular game today and riding the meme hype?
This is the scary part for those who were attracted to get on board with this project.
Now, the price is already down, I don't think there will be another pump as more than likely, the member(s) are already enjoying their "stolen" money from naive buyers.

Quote from: PrimeNumber7 on November 01, 2021, 09:34:17 AM

I read that the smart contract used to create that token was setup so that only certain people were able to sell. I understand that only the creators were able to sell and those that bought after a certain time could buy but not sell.

My guess is the creators were selling slowly as the price was going up, and decided to eventually sell as much as they could once the price got sufficiently high.

Do you have reference for this, regarding the section where you can see from their smart contract about the limits of who can only sell?
For sure, they only allow the team members who can sell their crap token.
Because we will see those addresses involved if they still have their tokens left.

PercT4b

member

Activity: 97

Merit: 10

Quote from: PrimeNumber7 on November 01, 2021, 09:34:17 AM

I read that the smart contract used to create that token was setup so that only certain people were able to sell. I understand that only the creators were able to sell and those that bought after a certain time could buy but not sell.

My guess is the creators were selling slowly as the price was going up, and decided to eventually sell as much as they could once the price got sufficiently high.

Would be great if you could tell us how to read a smart contract (for example on Bscscan), or if you know some tutorials available on the internet that could do that.

blockman

hero member

Activity: 2912

Merit: 627

Vave.com - Crypto Casino

Quote from: Len Saldua on November 01, 2021, 12:57:46 PM

This is what you get from a Hype token. Reason why I don't invest in Dogecoin or Shiba.

Squid token is completely different from Dogecoin but it's the point about a coin that's only made by hype. The people who have invested in it and got confidence still lack experience in the market. I feel bad for the guy who became trending about how he watches his life savings on this coin go to zero. It's completely sad and pitiful upon watching that streamer but it's also part of a lesson that he and everyone has to take that don't invest on these meme coins a lot.

Len Saldua

member

Activity: 245

Merit: 13

This is what you get from a Hype token. Reason why I don't invest in Dogecoin or Shiba.

Cookdata

hero member

Activity: 910

Merit: 875

Not Your Keys, Not Your Bitcoin

Quote from: cryptoaddictchie on November 01, 2021, 10:20:23 AM

Confidently implemented but why this happened?

I have tried to access the website but it seems down, they deactivate their website but as quoted from new York Post.

Quote

The issue could be tied to an “anti-dump mechanism” that the creators of the coin describe in a white paper associated with the cryptocurrency.

Source:- NYP

This is the link to squid game project but it's not going through:

Code:

 https://squidgame.cash/market.html

cryptoaddictchie

legendary

Activity: 2072

Merit: 1315

CoinPoker.com

Fuck no? The price hit 2.8k per token then go down to 0.003? Damn if this is real then those who got hyped by it during the high time are probably in deep loss now. Not to mentioned if whales played it as well and got cooked. This is the worst price dive that I've seen and witness for this year.

Quote from: Cookdata on November 01, 2021, 09:45:20 AM

There was no audit report for the project, but the team strategy was on track and being confidently implemented while investors were busy buying.

Confidently implemented but why this happened?

Cookdata

hero member

Activity: 910

Merit: 875

Not Your Keys, Not Your Bitcoin

Quote from: PrimeNumber7 on November 01, 2021, 09:34:17 AM

I read that the smart contract used to create that token was setup so that only certain people were able to sell. I understand that only the creators were able to sell and those that bought after a certain time could buy but not sell.

There was no audit report for the project, but the team strategy was on track and being confidently implemented while investors were busy buying.

PrimeNumber7

copper member

Activity: 1624

Merit: 1899

Amazon Prime Member #7

I read that the smart contract used to create that token was setup so that only certain people were able to sell. I understand that only the creators were able to sell and those that bought after a certain time could buy but not sell.

My guess is the creators were selling slowly as the price was going up, and decided to eventually sell as much as they could once the price got sufficiently high.

Cookdata

hero member

Activity: 910

Merit: 875

Not Your Keys, Not Your Bitcoin

This is a warning for meme coins lovers and users who love to follow twitter hype and quick to get profits from hype projects, a popular project with one of the popular Netflix series Squid game has plummet 99.99% of investors after the investors saw a big profits to a price level of $2,861 but unfortunately couldn't sell because of lack of transparency of the project, it has taken negative dive and crashed below 1 cent. its currently trading below $0.005 as seen some few hours ago.
Twitter has also restricted their account after the incident.

Current state of token

Price: $0.003271
Trading Volume: $14m
Market cap: $2.6m
Diluted market cap: $2.7m

Current state of chart

Source:- SQUID

Becareful of meme coins

Topic: Squid Game token crashes 99.99% from $2,861 to $0.003475, Twitter account gone - page 2. (Read 255 times)