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Squid Game Token on Base Blockchain Loses 99% Value: Investors Beware
December 28, 2024 – In a shocking turn of events, the token that manipulates the ‘Squid Game’ name and launched recently on the Base blockchain has lost an astonishing 99% of its value since its inception. This drastic decline in valuation has left many investors reeling, with some facing significant financial losses.
According to reports from PeckShield, a well-known blockchain security platform, the token’s rapid devaluation is a stark reminder for investors to exercise extreme caution when engaging with newly launched cryptocurrencies. It appears that the deployer of this fraudulent scheme holds the largest stake in the token, further fueling speculation about their potential involvement in the drastic price drop.
As a result, Coinpedia advises all cryptocurrency enthusiasts and investors to thoroughly verify the authenticity of tokens before making any investment decisions. This latest development serves as a stark reminder of the importance of due diligence in the fast-paced world of cryptocurrencies.
The Squid Game token’s 99% loss in value has sent shockwaves through the crypto community, with many calling for greater transparency and regulatory oversight to prevent such fraudulent activities from occurring in the future.
As the crypto market continues to evolve, it is crucial that investors prioritize education, research, and skepticism when navigating this volatile space.
Source: coinpedia.org
