A 200% to 300% increase in any portfolio makes you jump at the top of your seat. Likewise, a 100% devaluation would take away all your belongings. Wondering which market it is? We are talking about the crypto market where investment is a roller-coaster ride. I hope the Squid Game event stays fresh in memory. While the market favored tokens in the metaverse, there is a handful that choked badly. In this article, we shall look at a few worst crypto performers of 2021. Also, we will see whether they can make a comeback in 2022.

Squid Game token is the perfect example of a reckless investment. This token shot to fame post its launch. On October 27, 2021, the coin traded at $0.04 and experienced a sharp surge in prices in a few days. On October 31, 2021, it was trading at $35. At that point, the founders cashed out leading to a rug-pul. Within moments, the token zeroed and founders/developers made $3.7 million. To this day, this scam haunts all those who wanted to get rich overnight. 

It is not always the founders or developers to blame, sometimes protocols are prone to hacks. That's what had happened with Bogged finance. Bog entered the crypto-verse with a wonderful use-case. The project aimed to bring centralized finance tools to the DeFi space. Though it started off well, the token followed a bearish pattern later. It continued its downward ascend from $22.54 on May 12 to $9.26 on May 21. This wasn't all since it further fell to zero down post an attack. An attacker drained $3 million in liquidity from the Bog protocol. As a result, the ecosystem took damage control steps by burning 7.5 million Bog tokens to restore its value. 

Pancake Bunny, another token in the infamous list tricked by the flash loan scam. The token price dropped from $545.82 to $3.12. The scam took shape in the form of a hacker using large amounts of BNBs to rig the market. The hacker first took a large sum in loans and used the same to mint Bunny tokens. Later on, the market crashed due to a large amount of off-loading. The prices crashed from $238 to $25 in a few hours. However, unlike all other scams, Pancake Bunny returned $18 million to investors. Thus igniting hope that despite the absence of regulations, DeFi still has potential.

bEarn is another unlucky mention on this list. This token didn't experience price manipulation but a vault attack. Attackers used flash loans from Cream Finance of $7.8 million. The amount was deposited and withdrawn 30 times from the bEarn vault. As a result, the coin dipped from $955.99 to $16 post an $11 million loss in stablecoins. 

Ekta brought a wonderful use-case of bridging the physical and real world. However, having witnessed an unprecedented rise to $10.41 in August, the token fell to $0.15 in October. The protocol got hacked by individuals from its own team. 

Apart from Ekta and Bogged Finance, there isn't much news from other tokens that they will return. Pancake Bunny future price predictions show a zero return on investment. Whereas, Bogged Finance could make a comeback and trade at $1.22 as per experts. 2022 will be an interesting year to see how these tokens make a comeback and restore public trust. 

The biggest HYPE in cryptocurrencies happened and ended badly. Rug-pulls are becoming very common lately, and are costing people hundreds if not thousands of dollars. The Squid Token crash is one of those stories and should be a learning lesson for all cryptocurrency enthusiasts. In this article, we're going to see what this project was all about, and see how the people behind the project managed to pull the rug on their investors.

The Squid token surfaced recently after the successful Netflix show "The Squid Game". The show is a South Korean survival drama television series on Netflix. It portrays how hundreds of contestants accept an invitation to compete in deadly games for a tempting prize. The show was an instant success, with more than 87 million viewers finishing the first series.

The Squid Token simply took the theme of the Squid Game, to benefit from the massive fame of the show. They promised to launch an online game based on the Squid Game, where users will have to deal with the Squid Tokens for entry to the ecosystem.

The entire project was set to fail from day one. If there's one thing that professional traders and investors know, is that to always do your research and plan your risk. For the Squid Token's case, the entire thing was perfectly executed to be the quickest rug-pull.

They first created a nice website to suit the main theme of the show. Second, they shilled the project on social media. Since The Squid Game show was already a hit sensation, it wasn't difficult to attract many investors in the early stages. In order to acquire those Squid Tokens, users should've staked big cryptos such as ETH, BTC, USDT, then get the MARBLE token. The latter can be swapped for SQUID for a ratio of 3:1 in the beginning.

This ratio started to increase and reached 15:1, so users needed more cryptos to stake. Because of all the staking that was happening, no one was able to sell, so the price kept on increasing. Coupled with a massive shilling, the price soared from a few cents to USD 2,800. What most people missed in the contract code, is that only the creator was able to sell, without having to own MARBLES even. When you have such lines of code, run away. The creators then closed the website and the social media channels and ran away with Millions in stolen profits.