A teaser for the third and final season of Netflix’s global hit Squid Game has triggered a short-term rally for memecoins associated with the series. One Squid Game-branded token (SQUID) has surged by over 5% hours after the trailer featured on YouTube late Monday.
Netflix confirmed that Squid Game Season 3 will premiere globally on June 27, 2025. Within 24 hours of the teaser’s release, the SQUID token jumped by 6%, reaching a trading price of $0.006102.
Plot teaser reignites crypto interest
The new season will continue with the twisted survival competition story that made the series a global phenomenon. According to the official synopsis, the story resumes with protagonist Gi-hun, also known as Player 456, seeking to dismantle the deadly games from within.
Haunted by the loss of his closest ally, Jung-bae (Player 390), Gi-hun could face off against the Front Man, who has reportedly infiltrated their resistance under the disguise of Player 001.
According to TradingView, the SQUID token price witnessed a 4.77% increase in the week building up to the teaser, but has shed over 64% of its value since the second season of the show was released.
The SQUID token is not officially affiliated with the streaming giant or the production team, but in the eyes of traders, it is closely tied to the show’s branding.
The Squid Game franchise continues to be one of Netflix’s best-performing shows. Season 2, which launched in December 2024, broke records within days of its debut to become the most viewed title during a premiere week.
It also entered Netflix’s Most Popular Non-English TV list in just three days. The show currently holds the #2 position with 192.6 million views, second only to Season 1’s staggering 265.2 million. Season 2 has also climbed to become the third most-watched season on Netflix across all categories.
Beyond the core storyline, Netflix has announced plans to expand the Squid Game universe with additional media content. The mobile game Squid Game: Unleashed debuted last year, and reports have surfaced about a potential spin-off series directed by acclaimed filmmaker David Fincher, although Netflix has not confirmed production timelines.
SQUID indicators spell short-term price growth
Technical analysis of SQUID shows a moderately bullish trend, although many indicators are neutral. Momentum-based metrics, such as the 10-day momentum reading of 0.000486 and the Moving Average Convergence Divergence (MACD) level at 0.000051, could give investors reason to buy the token. The Stochastic RSI Fast, at 59.495506, is on the higher end of the neutral spectrum.
SQUID/Tether price chart. Source: TradingView
Regulatory authorities and experienced analysts warn investors against such memecoins because they are susceptible to pump-and-dump cycles, especially when driven by media events.
Several Squid Game-related tokens have been launched since 2021, which mostly soared in the first few days and then nosedived in a matter of minutes.
On December 27, a day after Squid Game Season 2 was released, blockchain security firm PeckShield told crypto investors about several scam tokens falsely linked to the show. The firm said unaffiliated Squid Game-themed tokens are “circulating in the wild.”
PeckShield identified at least one suspicious token on the Base network, noting that the wallet address responsible for deploying the token also holds the largest supply. Since its release, the token has plummeted by 99%, which is a price pattern seen in pump-and-dump schemes.
#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
An X user explained that the largest wallets holding the token were nearly identical, claiming that developers use this strategy to concentrate supply among a small group of insiders.
“Yes, these are the top holders. Yes, they look all the same. No, that is not a coincidence. Don’t get rugged,” he remarked.
