Probably just happy to see you.... my girls squeek when they are very happy but that is usually when they are eating their fav treat....i rarely hear it any other time ....but the other day I was working in their room and i heard squeaking and i went over to the cage and lifted the flap that hids the upper portion of the cage in the daytime and my little Zoe had her head out of the sleeping pouch. Squeaking away.... i just like to think she was happy I was near and she probably thought it was treat time!