After a unexpected surge in direction of the end of closing week and early Monday morning that observed its designate earn above $2,800 despite multiple scam warnings, Squid Sport Token (SQUID) has sooner or later taken a bow.
Twitter used to be accountable for nailing the closing nail to the coffin by flagging the coin’s Twitter fable which sent the token’s designate plummeting under $0.01.
Twitter flagged the “official” Squid Sport token accounts on the social media platform as suspicious.
It easiest took minutes for SQUID to drop 99.99%
It’s some distance reported that Twitter first flagged and restricted the common Squid Sport token, which has over 70Good ample subscribers, after which the coins developers tried to flee other accounts that had been also closed by Twitter.
It easiest took a subject of minutes for SQUID’s designate to crash from about $2,861 to under $1.
Multiple scam warnings sooner than the crash
From the very onset of the Squid Sport Token, the cryptocurrency neighborhood had been very suspicious with most seeing it as a scam. To start with the cryptocurrency has unfounded founders.
On Friday, when the coin used to be on fire as it skyrocketed to a brand recent excessive, CoinGecko co-founder stated that it used to be “in all likelihood a scam,” and well-known that CoinGecko didn’t list it because it didn’t meet the itemizing standards. On the time SQUID used to be trading at about $5.
Amazingly, despite the multiple scam indicators, the coin persisted to rise astronomically to hit $90 as of the start of Monday sooner than skyrocketing to alternate above $2,800 in a subject of minutes early Monday morning.
There had been reports that SQUID token used to be using “anti-dumping expertise” that prevented holders from selling the token and this didn’t hit most as being a scam.
Quite lots of my normie pals purchased this $SQUID game token and couldn’t sell i (“anti-dump characteristic”)
Now explore what took web pronounce pic.twitter.com/wq5egYBKFa
— Buddy of Peach (@WaymanCap) November 1, 2021