{"id":33513,"date":"2023-07-10T03:26:57","date_gmt":"2023-07-10T07:26:57","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/squid-2-0-coin-is-the-top-trending-crypto-on-dextools\/"},"modified":"2023-07-10T03:26:59","modified_gmt":"2023-07-10T07:26:59","slug":"squid-2-0-coin-is-the-top-trending-crypto-on-dextools","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=33513","title":{"rendered":"Squid 2.0 Coin Is The Top Trending Crypto on DEXTools"},"content":{"rendered":"
\n

The recent trend of 2.0 meme coins now even includes an homage to the infamous Squid Game (SQUID) crypto scam, which rugpulled investors in 2021 – is Squid2.0 also a scam?<\/p>\n

What Was The Squid Game Crypto?<\/h2>\n

For traders not around during the last crypto bull run, Squid Game (SQUID) claimed to be a play to earn cryptocurrency inspired by the South Korean Netflix series of the same name.<\/p>\n

Launched on decentralized exchanges in late 2021 – shortly before Bitcoin and Ethereum hit their all-time highs – $SQUID crashed over 99.99%, with holders unable to sell their tokens.<\/p>\n

\n

‘Squid’s developers have made off with an estimated $3.38m (\u00a32.48m), according to technology website Gizmodo.’ – <\/i>BBC<\/i>, Nov 2, 2021<\/i><\/p>\n<\/blockquote>\n

While rug pull scams are common – seen on an almost daily basis on DEX platforms like PancakeSwap and Uniswap – Squid coin was one of the most successful for the scammers, taking place at the height of retail interest in cryptocurrency.<\/p>\n

<\/oembed><\/figure>\n

The Squid market cap at its peak was over $2.1 trillion, more than double the total crypto market cap – an important lesson in how market capitalization figures are just theoretical, calculated by multiplying the latest token price by the supply of coins that exists.<\/p>\n

If an asset is illiquid, with thin order books, and holders are unable to take profit, its market cap doesn’t represent real demand and can be ‘rugpulled’ from a high valuation to zero instantly. Especially if more tokens can be minted, or some wallet addresses are blacklisted from trading by the developers – commonly seen with scam tokens.<\/p>\n

As the Squid token’s CoinMarketCap page writes, the project achieved a meme coin like status, being ‘now ostensibly run by community after the initial rugging<\/i>‘ – the above video clip is widely shared across crypto Twitter to this day. However $SQUID never recovered, today priced under a cent.\u00a0<\/p>\n

What Is Squid Game 2.0 Token?<\/h2>\n

A new ‘Pepe2.0 coin’ kicked off the trend of 2.0 meme tokens that aim to ‘re-do the bull run’ of the assets they are named after, but without making the same mistakes.<\/p>\n

That was quickly followed by similar new coins on Uniswap – Doge2.0, Shib2.0, Babydoge2.0, TRX2.0 and more, with unknown developers.<\/p>\n

Many of those 2.0 tokens have crashed in price after an initial rally.<\/p>\n

However PEPE2.0 has had some initial success, with an over $35 million fully diluted market cap at the time of writing and a locked liquidity pool of over $1.5 million adding to its credibility.<\/p>\n

Squid Game 2.0 (SQUID2.0) has a lower liquidity than Pepe2.0 and a lower percentage of its tokens are locked, with UNCX Network<\/u>.<\/p>\n

The current fully diluted market cap of SQUID2.0 is just over $25 million, priced at $0.0006 with a 45.6 billion supply. It has a DEXTscore of 88\/99 and 4,800 holders, ranked among the top trending cryptocurrency assets on the DEXTools ‘hot pairs’ list.<\/p>\n

Like PEPE2.0, Squid Game 2.0 has a buy and sell tax of 1%, so traders will need to factor in those losses if deciding to take a risk on the token.<\/p>\n

Squid 2.0 Alternatives<\/h2>\n

Squid 2.0 is currently up over 200% in the past 24 hours, and has pumped 1,500,000% since its listing on Uniswap on July 7.<\/p>\n

CryptoNews has reviewed many upcoming cryptocurrency assets<\/u>, including crypto presales and pre-ICO projects yet to be listed on exchanges, offering a low entry point.<\/p>\n

\u00a0<\/p>\n

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.<\/sup><\/i><\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The recent trend of 2.0 meme coins now even includes an homage to the infamous Squid Game (SQUID) crypto scam, which rugpulled investors in 2021 – is Squid2.0 also a scam? What Was The Squid Game Crypto? For traders not around during the last crypto bull run, Squid Game (SQUID) claimed to be a play […]<\/p>\n","protected":false},"author":1,"featured_media":33514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-33513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nSquid 2.0 Coin Is The Top Trending Crypto on DEXTools | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The recent trend of 2.0 meme coins now even includes an homage to the infamous Squid Game (SQUID) crypto scam, which rugpulled investors in 2021 - is\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=33513\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Squid 2.0 Coin Is The Top Trending Crypto on DEXTools | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"The recent trend of 2.0 meme coins now even includes an homage to the infamous Squid Game (SQUID) crypto scam, which rugpulled investors in 2021 - 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