Squid Game Token launched riding Netflix's viral success. The team promised a play-to-earn game based on Squid Game. Within days, retail FOMO exploded. The token went from $0.01 to $38. Twitter exploded with "TO THE MOON" posts. No one was asking hard questions.
The smart contract had a built-in honeypot: let you BUY but not SELL. On November 1, the developers added massive liquidity at $2,856, then executed a rug pull by withdrawing all $3.38M in liquidity in a single transaction. The token went to zero in four minutes. Investors who bought near the peak lost everything.
ALWAYS verify sell functionality before buying. Use Token Sniffer or RugDoc. A token you cannot sell is not an investment — it is a donation. Pop culture associations are common manipulation tactics. Read the <a href="https://www.web3farmyard.com/blog/how-to-identify-scam-projects-in-crypto/">guide on identifying scams</a> to spot honeypots.