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.
20 Comments
YANG YUE
This isn't crypto. This is a ghost story with code. A community dug up a corpse and gave it a heartbeat. That's wild. I've seen rug pulls, but this? This is like someone stealing your car, then you rebuild it from scrap metal and drive it better than the original. The fact that it's still alive is a middle finger to every 'crypto is dead' headline. I'm not investing, but I'm watching.
Marie Mapilar
I just want to say... wow. I lost my entire crypto stash on V1. I was devastated. But seeing this community come together? It gave me hope again. Not because I think I'll get rich, but because it proved that people can still do something right in this mess. I still hold a tiny bit. Not for profit. For pride.
Leona Fowler
The contract fixes are solid. Non-upgradeable? Perfect. Zero tax on BNB and Base? Even better. But the whale concentration is still terrifying. One wallet holding 12%? That's not decentralization. That's a single point of failure with a cute name. If you're holding this, you're betting on altruism. Not math.
Neil MacLeod
The premise is absurd. A meme coin resurrected by angry traders. How is this not a joke? The market is a carnival. And this? This is the rigged ring toss where the prize is a plastic toy that might explode. I admire the effort. But this isn't finance. It's performance art with gas fees.
Anand Makawana
The multi-chain architecture is a strategic masterstroke. By deploying on BNB, Base, and Tron, SQUID V2 mitigates single-chain congestion risks and capitalizes on cross-chain liquidity pools. The immutable contract design aligns with core DeFi principles of trust minimization. However, the 25% whale concentration introduces systemic counterparty risk that cannot be ignored.
Mohammed Tahseen Shaikh
You people are so soft. This isn't a revolution. It's a dumpster fire with a website. They didn't fix anything. They just made it harder to steal. Big deal. The price is still trash. 0.002? You're kidding. If you're holding this, you're not a believer. You're a masochist. Wake up. This token has zero utility. Zero. It's just a name with a blockchain.
Sarah Terry
I remember when SQUID V1 crashed. I cried. Not because I lost money. Because I believed in the idea. Seeing V2 come to life? It felt like justice. I don't expect to get rich. But I hold a little. Just to prove that communities can outlast scammers. It's not about the price. It's about the principle.
Shayne Cokerdem
So like... some dudes got rich off a netflix show, then ran off with the cash. Then some other dudes, like, dug through the trash and rebuilt the whole thing? And now it's still trading? I'm not smart enough to get this. But I like it. It's like a zombie movie. Except the zombies won. And now they're running a taco truck. I'm in.
kavya barikar
The technical improvements are commendable. However, the emotional weight of this project cannot be overlooked. The community's resilience speaks to a deeper human desire for integrity in systems. This is not merely a token. It is a symbol.
Kevin Da silva
Low volume. High volatility. Whale-controlled. Still trading. That's crypto in a nutshell. No one's fixing the system. They're just building a new one on top of the rubble. I'm not buying. But I'm not laughing either.
Andy Green
This is the most pathetic thing I've ever seen. A scam token gets 'reborn' and suddenly it's a 'community triumph'? No. It's a failed experiment that somehow didn't die because the idiots refused to let go. You don't get a medal for surviving a dumpster fire. You get a warning. Don't touch the trash.
Andrew Midwood
I'm Canadian. We don't do drama like this. But I gotta say - this is the most chaotic thing I've ever seen. And honestly? Kinda beautiful. People didn't cry. They coded. That's the spirit. I bought a tiny bit. Not to get rich. To say I was there when the ghosts came back.
Alicia Speas
It's fascinating how a project born from greed became a vessel for integrity. The original team betrayed trust. The community rebuilt it without asking for permission. That’s not just crypto. That’s human nature at its most defiant. I don’t hold any, but I respect it.
Tammy Stevens
I know people say it's risky. But look - no team. No backdoor. No upgrade. That's the dream, right? We keep talking about 'decentralized' like it's a buzzword. Here's one that actually is. I'm not rich. But I sleep better knowing this exists.
Justin Credible
lol i bought 5000 squids after v1 died just to troll my bro. now i have 2000 left. i dont even remember why i still have them. but i kinda feel bad for selling. like... they went through so much. i guess im a weirdo.
Dheeraj Singh
You guys are delusional. This isn't 'decentralized.' It's a graveyard with a website. The price is a joke. The volume is a ghost. The whales? They're still running the show. You think you're heroes? You're just clinging to a dead meme like a security blanket. Wake up.
Shana Brown
I lost everything on V1. I cried. I swore off crypto. Then I saw the V2 GitHub. I didn't believe it. But I checked the code. Then I sent a tiny amount. Just to see. Now I hold it. Not because I think it'll go up. But because I believe in the people who rebuilt it. 🙏
Misty Williams
This is why crypto is a moral disaster. A group of criminals stole millions. Then, instead of being punished, they were replaced by a cult that worships their failure. This isn't innovation. It's enabling. You're not heroes. You're enablers.
Andrea Zaszczynski
I don't get why everyone's so emotional. It's a token. It's worth 0.002. That's it. Stop romanticizing it. It's not a movement. It's a spreadsheet with a story. If you're holding it because you 'believe,' you're not investing. You're grieving.
Brijendra Kumar
The fact that this token still trades is proof that retail investors are the biggest fools in finance. They don't learn. They don't calculate risk. They just cling to emotional narratives. This isn't a lesson. It's a warning. And you're all ignoring it.