SQUID Token Sees Price Crash As Twitter Flags Accounts

After seeing an impressive price surge, the Squid Game (SQUID) token has now nosedived more than 99%. This follows just few moments after Twitter flagged the “official” accounts of the token on the social media platform, tagging them as suspicious.

SQUID Crashes Completely

According to data on CoinMarketCap (CMC), the SQUID token began its dip on Monday, erasing all of its gains from as much as $2,861 at the very least. The plunge saw the token dropping below $1 within only minutes.

SQUID, has stopped trading at $0.003477 as at the time of writing, and down 99.99% over the past 24 hours with a trading volume of $14.31 million.

The drop follows shortly after Twitter flagged those accounts that were reportedly linked with the SQUID token as suspicious. Accounts flagged includes the original account, with more than 70,000 followers. Also, very shortly after Twitter’s flagging action, the Squid Game token developers attempted creating other accounts, albeit those have been closed as well.

Meanwhile, there have been several reports from the crypto community suspecting the SQUID token of being a scam, and right from the very onset. Probably because of the fake founders and blocked comments on Twitter, something has always not felt right.

Just three days ago, CoinGecko co-founder Bobby Ong had shared his belief that the token is most likely a scam. In addition, he noted that the firm did not list the SQUID token because it didn’t meet their listing criteria. At that time, the token was still trading around $5.

Now, despite the numerous warnings from the crypto community, a staggering rally of the token could not be prevented, seeing  its price gain astronomically, and bringing it to $90 as of Monday before hitting over $2,000 in several minutes.

CNBC also did emphasize that the SQUID token was using “anti-dumping technology”. A kind of tech that was preventing holders from selling the token.