When the Netflix show Squid Game exploded in 2021, it didn’t just dominate streaming-it sparked a cryptocurrency that would become one of the most infamous cases in crypto history. Enter Squid Game (CTO), or SQUID, a token that started as a joke, turned into a massive scam, and then somehow came back from the dead. This isn’t just another meme coin. It’s a story of failure, community rebellion, and technical rebirth.
The Original SQUID V1: A Masterclass in How Not to Build a Crypto Project
The first version of SQUID launched in October 2021, riding the wave of hype around the viral show. It promised rewards for holding the token, staking, and trading. But within days, it collapsed. The smart contract had a fatal flaw: a backdoor that let the developers drain all liquidity from the trading pool. Investors lost over $3 million in minutes. The token price went from $2,800 to $0. The project vanished. No one could contact the team. The website went dark. It was textbook rug pull-no second chances. TRM Labs later confirmed the scam used multiple layers of deception: low-liquidity DEXs, Tornado Cash for money laundering, and cross-chain swaps to hide stolen funds. It wasn’t just a bad code. It was a criminal operation disguised as a meme coin.The Community Refused to Let It Die
Most crypto projects that get rug-pulled fade into oblivion. Not SQUID. A small group of believers-mostly traders who had lost money-refused to accept defeat. They dug into the code. They found that the original team had left behind a public GitHub repository. They didn’t just complain. They built. By early 2022, they launched SQUID V2. This wasn’t a rebrand. It was a total rebuild. Every flaw in V1 was fixed. No more upgradeable smart contracts. No more hidden keys. No more central team. The new token was designed to be permanently immutable. Once deployed, not even the developers could change it. That’s the opposite of what V1 did. They didn’t just fix the code-they changed the philosophy. SQUID V2 became community-owned. No CEO. No marketing team. No promises. Just code, transparency, and a shared belief that decentralized systems should be bulletproof.How SQUID V2 Works Today
SQUID V2 runs on three blockchains: BNB Smart Chain, Base Chain, and Tron Network. That’s not just for show-it’s a strategic move. By being multi-chain, it avoids the bottlenecks and high fees of any single network. If one chain gets congested, users can move assets elsewhere. Here’s what makes it different from other tokens:- Non-upgradeable contracts: No one can change the rules after launch. Ever.
- Zero transaction tax on BNB and Base chains: You keep 100% of what you trade. No hidden fees.
- 1% tax only on Solana: This isn’t for profit-it’s to stop bots from spamming trades.
- Fixed supply: Exactly 800 million SQUID tokens exist. No more can be created.
- Community governance: No team controls the treasury. No team decides the roadmap.
They didn’t just copy Bitcoin. They improved on it. Where Bitcoin is decentralized by design, SQUID V2 is decentralized by necessity-because the original team stole everything and left.
Current Price and Market Data (March 2026)
As of March 24, 2026, SQUID is trading between $0.0018 and $0.0020 across exchanges. That’s down over 99% from its peak, but it’s not dead. Here’s what the numbers say:| Exchange | Price (USD) | 24h Volume | Change (24h) |
|---|---|---|---|
| Binance | $0.00521 | $1.2M | +1.2% |
| CoinMarketCap | $0.001894 | $3,253 | -0.61% |
| Crypto.com | $0.001946 | $1,123 | -0.61% |
| LiveCoinWatch | $0.001953 | $890 | -3.62% |
Price differences across exchanges are normal for low-volume tokens, but the wide gap between Binance and others suggests liquidity is concentrated on one platform. That’s risky. If Binance delists SQUID, the price could crater again.
Technical indicators are mixed. The RSI is at 42.78-neutral. The Stochastic Fast is at 7.76, which signals a potential buy. But the Fear and Greed Index is at 30 (Fear). Over the last 30 days, only 12 out of 30 trading days were green. That’s a 60% loss rate. Volatility is at 16.63%, which is extremely high. This isn’t a stable asset. It’s a rollercoaster.
Price Predictions: Hope or Hype?
CoinCodex predicted SQUID would hit $0.002914 by November 2025. It didn’t. It’s now below that. Their new forecast says SQUID could dip to $0.001818 by March 25, 2026, which is almost exactly where it is now. That’s not a prediction-it’s a mirror. Long-term, they project SQUID could reach $0.004562-$0.007880 by 2030. That’s a 200-300% increase from today. But here’s the catch: those numbers assume massive adoption, a bull market, and zero regulatory crackdowns. None of that is guaranteed.Whales and Risk: Who Controls SQUID?
SQUID has a tiny market cap compared to Bitcoin or Ethereum. That means a few wallets can move the price. One wallet holds over 12% of all SQUID. Another holds 8%. Together, they control nearly 25% of the supply. That’s dangerous. If one of these whales decides to dump, the price could crash 50% in minutes. There’s no safety net. No institutional buyers. No stablecoin pairs. Just retail traders and bots.
SQUID vs. SQUID2: Don’t Get Confused
There’s another token called Squid Game 2.0 (SQUID2). It’s on Ethereum. It has 45.6 billion tokens. It has nothing to do with SQUID V2. People mix them up all the time. If you’re buying SQUID, make sure you’re on the right chain and the right contract address. One wrong click, and you lose money.Is SQUID V2 Safe to Invest In?
Let’s be clear: SQUID is not a safe investment. It’s high-risk, high-volatility, and still fragile. But it’s not a scam anymore. The original team is gone. The code is open. The community is active. The token works as promised. If you’re considering it:- Only invest what you can afford to lose-1% of your portfolio, max.
- Use a wallet you control. Never leave it on an exchange.
- Check the contract address before every trade. The real SQUID V2 is on BNB Smart Chain, Base Chain, and Tron.
- Watch for whale movements. Use blockchain explorers like Etherscan or BscScan to track large transfers.
- Don’t trust price predictions. They’re guesses, not facts.
The Bigger Lesson
SQUID V2 isn’t just a token. It’s proof that crypto can self-correct. A community didn’t wait for regulators. They didn’t sue. They coded. They built. And they made something that can’t be stolen again. It’s still messy. It’s still risky. But it’s alive because people believed in the idea-not the hype.If you want to understand what decentralized finance really means, look at SQUID V2. It’s not perfect. But it’s real.
Is Squid Game (SQUID) crypto still a scam?
No. The original SQUID V1 was a scam that stole millions. But SQUID V2 is a completely rebuilt token with no central team, non-upgradeable contracts, and community ownership. The original scammers are gone. What exists today is a decentralized project that can’t be manipulated by insiders.
Can SQUID V2 be rug-pulled again?
Technically, no. SQUID V2 uses non-upgradeable smart contracts. That means no one-not even the original developers-can change the code, withdraw liquidity, or mint new tokens. The system is locked. This is the opposite of V1, which had a backdoor. V2 was designed to make rug pulls impossible.
Why is SQUID’s price so different on different exchanges?
SQUID has low overall trading volume compared to major coins. This means liquidity is uneven. Binance has higher volume and tighter spreads, so prices there are more stable. On smaller exchanges, a few trades can swing the price wildly. Always check the price on multiple platforms before trading.
What’s the difference between SQUID and SQUID2?
SQUID (CTO) is the original meme coin rebuilt as V2 on BNB Smart Chain, Base, and Tron. SQUID2 is a completely separate token on Ethereum, launched in 2023 with 45.6 billion supply. They have no connection. Confusing them can lead to buying the wrong token and losing money.
Is SQUID a good long-term investment?
It’s not a traditional investment. SQUID has no revenue, no product, and no team. Its value comes from community belief and speculative demand. It could go to zero tomorrow. Or, if crypto enters a bull market and adoption grows, it might rise. Only invest if you’re comfortable with extreme risk and understand it’s gambling, not investing.
How do I buy SQUID V2 safely?
Use a trusted exchange like Binance or PancakeSwap. Always verify the contract address: 0x24551221b5165b35d5d64e0e2c14e4d45d944d35 on BNB Smart Chain. Never trust links from social media. Use blockchain explorers like BscScan to confirm transactions. Store your SQUID in a wallet you control, not on an exchange.
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