Ultimately, one winner is said to walk away with 90 % of the prize money, with the remaining 10% going to the game’s developers.

On Tuesday, October 26, the SQUID coin was trading at roughly $0.012, according to data from CoinMarketCap.com. Since its introduction, the token seems to have been caught up in the latest meme coin craze, with its value surging by more than 40,000%.

Currently, the coin is trading at $6.79 at the time of publication, with a trading volume of over $8 million in the last 24 hours.

Transparency issues

It’s worth mentioning that the domain was purchased around five days before the analysis of its very basic audit, with the next audit scheduled to be renewed in the next year.

However, the Coinscope audit of the Squid Game (SQUID) project does not imply that the project is fully audited.

How to sell squid game token

Please note [November 1, 2021 update]: Squid Game investors fall victim as web goes offline with SQUID price crashing to zero. Read more here.

The value of a Squid Game (SQUID) cryptocurrency, a token based on the popular Netflix (NASDAQ: NFLX) series of the same name, has increased by more than 40,000% since its launch, as other so-called “meme currencies” have skyrocketed.

However, users of the SQUID token referencing the series are now facing issues selling the digital currency on the Pancakeswap platform, according to the notification appearing on CoinMarketCap, the most popular site for checking crypto volume and prices, and supply of coins.
It says:

“We have received multiple reports that users are not able to sell this token in Pancakeswap.

How to sell squid game token reddit

Each SQUID token will now set buyers back $5.44 at time of writing.

On the SquidGame website, the developers state plans for an interactive game where holders can stake SQUID tokens to take part in online games inspired by the Netflix show. Per the project’s whitepaper, each game requires a different number of tokens to enter, with the highest stake game set to require 15,000 SQUID tokens, worth almost $75,000 at current prices.

Each game requires 456 players to start.
In the end, one winner will take 90% of the pot, with the remaining 10% going to the game’s developers.

The parabolic rise of the SQUID token’s price is partially due to the project’s self-styled “anti-dump mechanism.” Holders are only able to sell SQUID equal to half the buying power of the trading pool.

How to sell squid game coin

Ponzi scheme.

Crypto Tyrion, a Twitter user, noticed that the Squid Game token’s founders, who are stated on the website, are not on LinkedIn, a significant professional network. They also stated that the Squid Game token was preventing Twitter comments from being posted.
Crypto Tyrion stated, “100 percent rug pull.”

Some critics have pointed out flaws in the white paper for the Squid Game token, such as poor syntax, spelling problems, and assertions that are “difficult to verify.” The Squid Game token’s website has a trust score of 45 out of 100, according to prominent scam-checking site Scamadviser.

The Squid Game token is based on Netflix’s namesake show, in which players risk their lives to play hazardous games in the hopes of winning a large sum of money.

How can i sell squid game token

The token is believed to allow players to compete in six online games for a chance to win cash prizes.

Due to SQUID holdings requirements, CMC made a statement on Friday stating that due to SQUID’s rally, playing the Squid Game detailed in the project’s white paper may be costly for most participants. As a result, players in the sixth and final game would need to have 15,000 SQUID, which is worth approximately $80,000 at the time of writing.

CoinGecko, CMC’s main competitor, has steered clear of SQUID.
“Because this cryptocurrency does not match our listing standards, CoinGecko will not list it. It’s most likely a scam, said Bobby Ong, co-founder of CoinGecko.

Squid Game” show where competitors compete in childhood games with their lives on the line.

  • You need to own parts of the new Squid Game cryptocurrency in order to play the online Squid Game, though.
  • The game isn’t available until November.

How much is Squid worth?

  • One Squid Game cryptocurrency coin was worth $0.01 Tuesday.
  • By Friday, a single coin’s value was worth $4.39.
  • As of this writing, the coin was worth $6.80 per coin.

Can you sell Squid?

However, “Squid has been criticized for not allowing investors to resell their tokens,” per BBC News.

Indeed, CoinMarketCap released a warning about the cryptocurrency, saying there have been reports that the coin can’t be resold.

  • “We have received multiple reports that users are not able to sell this token in Pancakeswap.

Please do your own due diligence and exercise caution while trading! This project, while clearly inspired by the Netflix show of the same name, is unlikely to be affiliated with the official IP.”

The three red triangles displayed indicate that CoinMarketCap can’t verify the legitimacy of the data.

What is SQUID

Supposedly, holders of the token launched on Binance Smart Chain (BSC) will be able to participate in online games that are inspired by the program.

According to the project’s whitepaper, each game needs a different amount of tokens to participate. To participate, the highest stakes game requires 15,000 SQUID tokens, which are now worth about $75,000 at current rates.

To begin each game, 456 participants must be present.

Coinscope itself states:

“Coinscope team does not guarantee that a project will not remove liquidity, sell off team supply, or any other exit scam strategy. The information provided on this document by auditing the respective project is only for general information and should NOT be used as a reason to invest in any independent project.”

Typically, a professional token audit consists of the following:

  • A comprehensive assessment of the code by the experts to point out the potential threat in a smart contract.
  • An extensive exercise attempting to find the vulnerabilities and system exploits done by an independent team of testers.

As a result, this audit is quite inadequate since it does not evaluate the expertise-level auditing.

Twitter page suspended

Finally, the tokens support domain is not operational at the moment.

Squid Game (SQUID), a new cryptocurrency inspired by the Netflix program of the same name, has grown by 45,000 percent in just a few days after its launch earlier this week, however, several investors of Squid game Cryptocurrency are unable to sell the token.

“We’ve received many reports that PancakeSwap users are unable to sell this token. In a warning about the SQUID coin on its website, the leading crypto tracking website CoinMarketCap stated, “Please use caution while dealing”.

Image Source: Coincu News

At the time of writing, CMC claims that PancakeSwap is the only exchange for exchanging SQUID.

The token will allow holders to compete in online games inspired by the show—but it’s been labeled a scam.

A crypto token inspired by the hit Netflix series Squid Game has rallied more than 40,000% as several so-called “meme coins” balloon in value. However, the token mechanics look suspicious.

Squid Game Inspires Token

Squid Game has inspired a dubious meme coin.

A Binance Smart Chain project called SquidGame has created the SQUID token, promising users the chance to take part in online games based on the hit Netflix (NASDAQ:NFLX) show.

Data from CoinMarketCap shows the SQUID token trading at around $0.012 Tuesday, six days after its launch.

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