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Elon Musk Tweeted About Once Rug Pulled Squid Game Token, Price Moved Up By 100 %
Elon Musk Tweeted About Once Rug Pulled Squid Game Token, Its Price Moved Up By 100 % Transcript: This is a quick update on the Squid game token. A lot of things are happening behind the scene whether we talk about DAO formation led by BKEX chief JM, or the development of games by various independent dev teams committed to Squid, something we will discuss at length in another video but at this moment everything looks so promising and convincing, this could be fastest sentiment reversal ever, a month ago everyone was devastated after the rug pull but now the community is cheering and looking at a better future at purest form of DEFI, driven by the community itself, exemplifying the democracy within the monetary system. Talking of the community, it is growing and getting strong every single day. In the background Binance is doing its due diligence, Binance listing can happen anytime in 2022, but one thing that any project in the crypto space dreams of has come true on 10th December 2021. Elon Musk is teasing its 65.8 million followers with the idea of getting on board with Squid. Not only that, he is also bringing Twitter founder Jack Dorsey with him, Jack posted a tweet with the caption “It was a trap”, in less than an hour, Elon Musk replied with a Youtube video titled best trap music mix 2021 with Squid Game’s characters in the thumbnail. Maybe Jack’s context was different but Elon linked it very smartly with Squid Game and the past rug pull. Now Elon is known for backing the projects which he genuinely believes in and the project where he feels the community could benefit He has done it with Bitcoin, he has done it with DogeCoin, he has somewhat shown interest in Shiba Inu and now Squid seems to be his new favorite. A moment after Elon’s tweet the price of Squid moved up by 100 %, this happened in the bear market where everything is down, which shows the perfect correlation between Elon’s shilling and Squid Game tokens price movement. Many users joined the telegram community, many new investors opened a position in Squid. Obviously, this was the first time Elon tweeted and supported Squid and many of his followers would have missed his random action but undoubtedly next time when he tweets, a huge number of new investors will join in and the volume will push the price to a new high. Thanks for watching Cryptalk, please subscribe for more updates related to Squid.
What Happened To Squid Game Token After The Rug Pull ? Why Investors Are Still Hoping For $2800
Title: What Happened To Squid Game Token After The Rug Pull ? Why Investors Are Still Hoping For $2800 Description : You might have read some Forbes article over what happened on 1st of November. For them the story is over, the buzz is over but in reality, that was just the beginning. Welcome to Cryptalk and let us take you to the series of events that followed the rug pull. Squid, which marketed itself as a "play-to-earn cryptocurrency", had seen its price soar around 14,300,000% in the last week of October - surging to $2,861. This started with Squid Game’s developers creating this “anti-dumping mechanism” which, while the name makes it sound like a good idea, was just a way for the developers to lock people into the token. Basically, once you bought Squid Game token, you couldn’t sell it until you gathered what the developers called “marbles.” Marbles could only be acquired through winning one of the various games in the Squid Game project. Makes sense… but those games weren’t live, and so no one could actually win any marbles. On 1st of November 1:38 pm UTC creators removed the "anti dump mechanism" and gave them the permission to sell their tokens without marbles. Liquidity pool holdings of around $3.36 million disappeared in an instant with developers yanking out and in a matter of seconds, it plunged 99.9% to below a penny. All the major portals like Coinmarketcap labelled the project as heist and a classic example of rug pull. Amidst the fud some big exchanges like Gate IO and BKEX listed Squid. Price quickly surged around 30,000 % within five days with massive volume. And now, Squid project is taken over by the community, is no longer controlled by the developers and investors can now buy and sell freely on various DEXs and CEXs. Binance has now stepped forward to take action against this heist. Binance spokesperson, in his statement, announced that it will investigate the crash of the Squid token. It cleared that it considers it a heist and that Binance will now explore options "to help those harmed" in the crash. Binance could not do enough to help the investors but “blacklisted the addresses to prevent withdrawals from Binance accounts linked to this heist and deploying blockchain analytics to identify the bad actors.” As a first step, Binance blocked withdrawals from its accounts which were found to be linked to the heist. Meanwhile behind the scene a strong global community is building and getting huge as volunteers taking the lead to wash the stains after the original creators shut down their website and all accesses. Squid community volunteers has opened new website and channel for investors to interact with each other and they make all their decisions by community votes, forming a DAO, the kind of DeFi governance many popular crypto currencies could not manage. According to Squid website which is updated and approved by Coinmarketcap and other portals, Investors are protected and SQUID GAME is now decentralized. The website has also addressed the possible future rug pull as fud assuring the investors that another rug pull cannot occur because Binance has blacklisted all developer wallets and has decentralized the coin. There is a huge speculation that Binance is also planning to list Squid but they are waiting for investigation to be over. Several gaming agencies are creating play to earn games for the squid community. The website has also mentioned an NFT and Community wallet that will be a means to raise fund for growing the community. We see a bright future ahead in terms of $Squid adoption and growth for the whole community.
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