Squid Grow (SQUIDGROW) Price Forecast : Red Flags for the Meme Coin

Similar to other Netflix-inspired tokens, Squid Grow comes with a number of red flags.

After a rug pull fraud in 2021, the Netflix series Squid Game had a terrible image in the cryptocurrency market. But this hasn’t stopped the debut of Squid Grow, a cryptocurrency designed to be a meme token.

In spite of this, Laser.Desk has labeled SQUIDGROW a “possible scam” and there are other warning signs, such as its anonymous founder and centralized smart contract.

Squid Grow (SQUIDGROW), Explained

Squid Grow, named after the hit Netflix show, is a new cryptocurrency that aims to become the most widely used meme token. The currency aspires to acquire the status of BNB chain’s most secure meme coin. In the words of its website, “We will continue to grow until we reach the top with marketing, utility, and more!”

Squid Grow plans to accomplish its objectives by putting a premium on trust, community, transparency, and longevity.

The company’s whitepaper stressed the importance of trust in the bitcoin sector. That calls for openness on security measures as well as community and development plans.

The creator of this meme project, however, wishes to remain unknown and uses the name Shibtoshi (a play on the name of Bitcoin’s creator) in all of their online interactions. The project’s American marketing director identified himself as Dane and shared that he had played college sports and worked in the cryptocurrency sector for seven years. However, Currency.com was unable to confirm this independently of the Squid Grow website.

The Brief Price History of SQUIDGROW

According to PooCoin, SQUIDGROW did not debut until June 18th, 2022. When it was finally added to CoinMarketCap on July 26th, its first value was $0.000000007865.

Squid Grow was first mentioned on Gate.io’s official twitter account on July 27 and listed on the exchange CoinTiger the same day. As of August 1st, the price had reportedly reached a new all-time high of $0.00000004922 on CoinMarketCap.

The biggest whale in $SHIB made their own token. Take a peek at #SquidGrow 👀

— fantyhm (@fantyhm) July 26, 2022

Though it has since retreated, on August 3 SQUIDGROW was trading for $0.000000038, an increase of 172% from the prior week. Based on its market cap, it was ranked 2,835th among all cryptocurrencies listed on CoinMarketCap at the time.

Squid Grow (SQUIDGROW) Price Prediction

As SQUIDGROW has only been around for a relatively short period of time, there are currently not many reliable price predictions being made. Nonetheless, there are intrepid souls among us who have made bullish predictions about the Squid Grow crypto price.

According to the Squid Grow price forecast on DigitalCoinPrice for 2022, the coin may have averaged around $0.00000005 this year. From then, increases to $0.00000007 in 2025 and $0.00000017 in 2030 were anticipated.

In a similar vein, PricePrediction predicted that by 2022, the highest price the cryptocurrency may reach would be $0.00000005. According to the Squid Grow price forecast, by the year 2025, the value of a single Squid Grow would have increased by more than $0.0000001. The price was predicted by Squid Grow to approach $0.000001 by the start of the following decade, in 2030.

However, the cryptocurrency has proven to have several red flags, so potential investors should make sure they have done their own research into the cryptocurrency before listening to any SQUIDGROW coin price predictions. As the Netflix show has a checkered past in the crypto business, this is of the utmost importance.

Squid Grow (SQUIDGROW) price prediction：FAQs

1.In other words, how many Squid Grow are there?

CoinMarketCap reports a total supply of 1 quadrillion (1,000,000,000,000,000) SQUIDGROW, with 610 trillion in circulation as of 3 August 2022.

2.Would it be wise to put money into Squid Grow?

The Squid Grow meme token debuted in June of 2022, and it was clearly inspired by the Netflix show of the same name. Investors should exercise extreme caution before making any investment and should never invest more money than they can afford to lose after learning that the TV show has been informally exploited in the crypto business to defraud investors out of almost $3m.

3.How high can Squid Grow get?

Few estimates of the future value of the SQUIDGROW token have been made. Both DigitalCoinPrice and PricePrediction, however, see bright prospects for the currency in the future.

Even so, there are a number of warning signs associated with the coin, such as its unidentified creator and a centralized smart contract. Before investing, do your homework and never spend more than you can afford to lose.

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