> However, they were surprised when they learned of the “anti-dumping mechanism,” which in hindsight now appears to be more of an anti-selling mechanism. > Her

> However, they were surprised when they learned of the “anti-dumping mechanism,” which in hindsight now appears to be more of an anti-selling mechanism. > Here’s the problem: the project’s creators didn’t just create one token, they created two. > The other cryptocurrency is called Marbles — and this asset can only be earned by taking part in the project’s play-to-earn game. Only those who have accrued Marbles actually have the ability to sell their SQUID on the open market. This is one of the most blatant scams, or really traps as far as crypto tokens go. So clearly this token had forced liquidity issues. > Unfortunately, many of the articles published about SQUID failed to make it clear this token is not officially affiliated with Netflix — giving it a sheen of respectability that may have lulled investors into a false sense of security. Is it really expected that the token was related to Netflix? Its a meme-coin and thats not new. If you think you're "investing" in coins and this is how you invest, then you're not a good investor. You may think you're investing, but you're just buying into a joke. This is why the SEC has rules around investments, and this is why everyone is told that good practice is to buy indexes. People _should_ know better but often don't. Also, it looks like there was something fishy going on to trick people into thinking the token was valuable, either intentionally or accidentally. It looks like there was a liquidity issue, and that could have enabled a large holder to push the price really high in a short time - because if not enough people are selling, then whatever price some rando asks can be the new market price. That would also explain the immediate crash - the whale was done and left. > CoinMarketCap had received multiple reports of users struggling to sell SQUID on the decentralized exchange PancakeSwap. It looks like coin had very low liquidity. > Just 35 minutes later — at 9.35am — SQUID appeared to hit highs of $2,861.80. A surge of 7,500% in three-and-a-half hours is unheard of… even in the notoriously volatile world of cryptocurrencies. And it seems like some one over-paid or otherwise pushed the price high, probably also some frenzy and excitement thrown in.