After the Squid Game (SQUID) “rug pull” operation in 2021, experts are warning as a new altcoin project reportedly inspired by the series is rapidly climbing the charts. In this article, we take a look at Sahana Venugopal’s observations about the “new version” Baby Squid Game (BSG).
Altcoin project started the new year with a 500% explosion
Baby Squid Game (BSG) came out in late 2021 and experienced a huge spike in price before diving into the bottom and staying there. However, the Binance Smart Chain-based BSG token rallied more than 500% on December 31, topping the list of top earners on CoinMarketCap.
https://twitter. com/babysquidgame/status/1476880160443940864
Looking at the official website of the Baby Squid Game token, it is learned that the domain name was created in October last year. Website ages can be an important factor in showing how much time is spent on the project. It’s important to note that Baby Squid Game has reportedly been audited by TechRate. The following statements are used in the town where the token’s working document or red paper is indicated:
Baby Squid is a decentralized gaming PvP platform that allows players to monetize in-game NFT achievements and real money.
Project’s social media credentials is another story
Game developer Robert Aponte’s only officially listed channel is another company’s Instagram account with just three posts. Aponte claims to have “more than 6 million followers on Instagram,” but the Instagram account listed has only 14.6k followers. In addition, the YouTube channel on the site has only three subscribers, while the official Twitter account has close to 9 thousand followers. Social media statistics can go a long way in showing the engagement levels of a token community.
Cryptocoin. com, Squid Game (SQUID) made headlines in the crypto world when it was accused of being a “rug pull” scam that defrauded thousands of users. BscScan also classified it as a “robbery”. Studies estimate that those responsible escaped with millions of dollars.
