Meme Coins Linked to Squid Game Jump After Teaser Drop

A newly released teaser for the third and final season of Netflix’s global sensation Squid Game has sparked renewed interest in meme coins tied to the series, despite their unofficial status.

Within hours of the trailer’s debut on YouTube late Monday, the SQUID token—a cryptocurrency branded around the show—climbed over 5%, eventually reaching a 6% increase within 24 hours and trading at $0.006102.

Netflix confirmed the final season will premiere globally on 27 June 2025.

Season 3 picks up with Gi-hun, also known as Player 456, as he attempts to take down the deadly games from within.

Haunted by the death of Player 390, Jung-bae, Gi-hun is expected to face a new threat: the Front Man, rumoured to have infiltrated the resistance disguised as Player 001.

The twisted survival saga that captivated global audiences is set to continue its high-stakes narrative.

According to TradingView, SQUID had already gained 4.77% in the week leading up to the teaser’s release, although it has declined over 64% since Squid Game Season 2 premiered.

Despite having no official connection to Netflix or the show's creators, the token remains heavily influenced by the franchise's cultural momentum and media visibility.

Squid Game continues to be a flagship title for Netflix.

Season 2, released in December 2024, quickly became the most-viewed series during its debut week and entered the platform’s “Most Popular Non-English TV” list within three days.

It now holds the #2 spot with 192.6 million views, trailing only the original season’s 265.2 million, and ranks as Netflix’s third most-watched season overall.

The immense popularity saw the emergence of many squid game-inspired tokens as well.

Expanding the franchise further, Netflix recently launched the mobile game Squid Game: Unleashed and is reportedly developing a spin-off series directed by acclaimed filmmaker David Fincher, although production details have yet to be confirmed.

SQUID Token Raises Red Flags Among Analysts and Watchdogs

Regulators and seasoned analysts continue to flag meme coins like SQUID as high-risk assets prone to pump-and-dump activity, particularly when influenced by media-driven hype.

Since 2021, numerous Squid Game-themed tokens have surfaced, often experiencing brief price spikes before collapsing within hours.

Following the release of Squid Game Season 2, blockchain security firm PeckShield issued a warning on 27 December about scam tokens falsely associated with the show.

#PeckShieldAlert Beware of scam #SquidGame tokens circulating in the wild.
We have detected a fraudulent #SquidGame token deployed on #Base just 3 hours ago, with the deployer as the largest holder. The token has dropped 99%. pic.twitter.com/EIdaUldzaF
— PeckShieldAlert (@PeckShieldAlert) December 27, 2024
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The firm identified multiple unaffiliated tokens “circulating in the wild,” including one on the Base network where the deploying wallet also holds the largest share.

That token has since crashed 99%, a hallmark of classic pump-and-dump behaviour.

One user on X (formerly known as Twitter) noted that the top holding wallets were nearly identical—a tactic often used by bad actors to concentrate supply and manipulate prices behind the scenes.

He remarked:

“Yes, these are the top holders. Yes, they look all the same. No, that is not a coincidence. Don’t get rugged.”