{"id":418234,"date":"2023-07-12T16:34:22","date_gmt":"2023-07-12T16:34:22","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=418234"},"modified":"2024-06-06T19:33:48","modified_gmt":"2024-06-06T19:33:48","slug":"squid-game-2-0-jumps-9-in-24-hours-the-next-big-thing-or-scam-2-0","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/squid-game-2-0-jumps-9-in-24-hours-the-next-big-thing-or-scam-2-0","title":{"rendered":"Squid Game 2.0 Jumps 9% in 24 Hours. The Next Big Thing or Scam 2.0?\u00a0"},"content":{"rendered":"
Squid Game 2.0, launched on July 7, rose 9% in the past 24 hours on volume of more than $2 million, raising questions over whether it’s another scam or the next big thing. <\/span><\/p>\n It’s the rebranded version of the infamous play-to-earn crypto project inspired by the South Korean Netflix series Squid Game that rug-pulled investors in 2021. <\/span><\/p>\n Trading for less than a week now, Squid Game 2.0 (SQUID2) has taken centre stage among the most trending cryptocurrencies on <\/span>DEXTools<\/span>. <\/span><\/p>\n The token bagged a staggering 45% increase in price on July 11, with over $4.47 million in trading volume. However, SQUID2’s rapid rise to the limelight has sparked concerns among market participants.<\/span><\/p>\n Concerns about the project’s authenticity have mounted among investors as SQUID 2.0 has claimed the spotlight as the most trending crypto on DEXTools. <\/span><\/p>\n With a <\/span>total market capitalization<\/span> of $21.83 million and $785.70k in liquidity, SQUID2.0’s price changes hands at $0.0004781, with a 5.31% 24-hour price increase. <\/span><\/p>\n According to CoinMarketCap <\/span>data<\/span><\/a>, SQUID2.0’s trading volume has declined by 30% over the past 24 hours and currently stands at approximately $2.66 million.<\/span><\/p>\n Revisiting Squid Game 2.0’s origin and its predecessor is crucial to fully understanding the coin’s significance and why crypto community members worry about its legitimacy.<\/span><\/p>\n A token dubbed Squid Game ($SQUID) emerged during the 2021 bull market. The crypto project rode the wave of popularity generated by Netflix’s original series, Squid Game.<\/span><\/p>\n SQUID<\/span><\/a> started trading on October 20, 2021, after the release of the hit Netflix series in September of the same year. The project’s whitepaper showed the token sold out “within seconds.” <\/span><\/p>\n SQUID traded for a few cents in the first few days. Its price quickly skyrocketed over 50,000% to a little under $11. The project team claimed Elon Musk pumped the Squid Game token’s price even though they presented no evidence to back their claims.<\/span><\/p>\n Squid Game token claimed to reward investors with 7% interest for holding it. It also claimed to allow token holders to earn Ethereum from playing the Squid Game.<\/span><\/p>\n In July, another Squid Game meme token, tagged Squid Game 2.0, emerged. The project developers claimed SQUID2.0 is a product of lessons learned from the first SQUID. <\/span><\/p>\n According to the project’s description on CoinMarketCap, Squid Game 2.0 is a fully community-driven project. It plans to inject 100% of tokens into liquidity with a long-term token lock. SQUID2.0 touted itself as the real Squid Game since the first one got blacklisted and its contracts were renounced.<\/span><\/p>\n Squid Game 2.0 token’s objective is to re-do the bull run and correct the mistakes of the previous SQUID developers. <\/span>However, similar second mimic tokens, such as Doge2.0, Shib2.0, Babydoge2.0, TRX2.0, and more, emerged and crashed in prices after a brief rally, except for Pepe 2.0. Pepe2.0 kicked off the meme trend following Pepe Coin’s footprint.<\/span><\/p>\n PEPE 2.0 recorded more success than other 2.0 tokens, with a fully diluted market cap of over $37 million. <\/span>PEPE2.0 price<\/span><\/a> has increased over 2697% since June 27, with a locked liquidity pool of over $1.5 million adding to its credibility.<\/span><\/p>\n Squid Game 2.0 seeks to surpass PEPE2.0 even though it is newer in the market than Pepe2.0. SQUID2.0 has lower liquidity than Pepe2.0, with only 57% (448.71 million) of locked tokens, according to the UNCX network. <\/span><\/p>\n As of the time of writing, Etherscan <\/span>data<\/span><\/a> shows SQUID2.0 has 5,773 holders, with 15,162 transfers. <\/span><\/p>\n While Squid Game 2.0’s future remains uncertain, the token’s progress over the past few days of its launch suggests strategic investors may enjoy significant returns. <\/span><\/p>\n Although the SQUID2.0 token is 14.42% lower than its all-time high of %0.0005523, recorded a few hours ago, its price has increased by over 27% from its all-time low, recorded on June 11. <\/span><\/p>\n But the trading volume suggests otherwise. SQUID2.0 trading volume has declined by 30% over the past 24 hours, indicating that investors might be losing interest in the project. The decline in trading volume could also suggest the bears are in control.<\/span><\/p>\nSquid Game 2.0 Price Movement in the Past Few Days<\/h2>\n
Why The Crypto Community Worries About Squid Game 2.0’s Authenticity and Intentions<\/h2>\n
What Is Squid Game 2.0?<\/h2>\n
Squid Game 2.0 Price Outlook in the Coming Days<\/h2>\n