Should I have folded QQ pf here?

[rodders133]

Firstly, apologies for not knowing how to post proper HH.

Full ring 2/4c
I am utg with QQ and make it 24c to go (I have around $5),
utg+1 reraises and makes it 70c to go. It folds round to me.
I check his stats and see that he has been seeing 5% of flops. He is by far the tightest player at the table.
With this information I came to the conclusion that his range of hands could only be AA KK AK, so completely dominated by 2, and a coinflip on 1. He started the hand with $2, so only had $1.30 after his reraise. I didnt feel I had the implied odds to call to try and hit my Q.
I folded. Was this correct or do you think I am playing too tight?