Other newly created squid coins are all recently created, and they are all without any information: no official website, no community, no presence. In contrast, the old squid coin has a community, has a presence, has a complete official website, and has been established for three years without dying or going to zero. Many meme coins have already disappeared in three years.

According to Cointelegraph, after Netflix released the second season of (Squidward Gaming), a large number of tokens based on the show emerged in the market. Community members warned that these tokens may be scams or "rug pulls."

On December 27, blockchain security company PeckShield warned community members about these Squid Game tokens, which are believed to be fraudulent. PeckShield pointed out that these tokens are circulating in the market.

PeckShield also found a token deployed on Base whose deployer is the largest holder, which has fallen 99% since its launch. Similar tokens have also appeared on the Solana network.