Fall of Squid Game – A Cryptocurrency Turned into Nothing

Most of us have heard and watched the Squid Game series, which has generated a massive response from the worldwide audience. Netflix was not aware of its popularity until Squid Game was officially launched on 17^th September 2021 on the platform. The share price of Netflix witnessed a jump of 7% on the New York Stock Exchange (NYSE) after the series was released. Everything seems to be a smooth road for the Squid Game fans, but here is a juncture to the story, a new cryptocurrency came into effect after the success of the series.

Opportunity is everywhere, you have to see thoroughly, and it happened when Squid Game Coin was added to the catalogue of cryptocurrency. It is quite amusing that a cryptocurrency was generated on the show’s name (Squid Game Coin), and it generated thousand percent of returns in a short time.

Launch of Squid Game Coins

Squid Game Coins came into existence after the release of Squid Game on Netflix. As per Coin Market Cap data, it was launched with a mere price of $0.012 USD on 20^th October 2021 and showed a gigantic upside of $32.25 USD on 31^st October (in just 10 days!).

Journey of Squid Game Coin Scam

On the very next day (1^st November 2021), the momentum did not halt and a stupendous breakout happened in the Squid Game Coin, which raised the value to $628.33 with volumes of 10.83 million.

The Decline of Squid Game Coins

Investors were cheerful who had invested in the said cryptocurrency, as the enormous rate of return was earned. However, there is always a risk linked with the cryptocurrency market, and it is called volatility.

After witnessing an upward trajectory to $628.33 on 1^st November 2021, the Squid Game coin could not handle the upside and got crashed to a mere $0.0007 USD on the same day.

Squid Game Coin: A Scam or Just A Fall?

Every cryptocurrency has to face up and low cycle in its price due to demand and supply in the market. The rule is simple – whichever cryptocurrency has large demand and its supply is low, it will have a high price and vice-versa.

However, the case is different in Squid Game Coin because it has generated 2,30,000% returns in ten days, and has crashed to a new low. Nonetheless, promoters of Squid Game Coin have earned a whopping amount of $3.38 million in sales and now the promoters have fled. Unfortunately, the official website of Squid Game coin has been closed. People are citing that the official website of Squid Game Coin had grammatical errors and the social media promoted the website is nowhere to be seen.

Conclusion

Several cryptocurrencies, such as BitCoin (BTC), Ethereum, and Dogecoin, etc are currently operating in the market, and they have generated high profits for their investors. On the contrary, investments in Squid Game Coin have evaporated into the thin air, and there is no coming back.

Investments in cryptocurrency are filled with risks and there is no regulatory body to safeguard the interest of investors.

Frequently Asked Questions on Squid Game Coin

What is Squid Game Coin?

Squid Game Coins are a play-to-earn cryptocurrency, whose value has sky-rocketed after the success of the show (Squid Game) on Netflix.

Should I invest in Squid Game?

The return of investment on Squid Game is 2,30,000% from its launch date, but now it has collapsed 99.99% in its value. It would be advisable to refrain from investing in Squid Game.

Is Squid Game coin a scam?

A debate has initiated in the cryptocurrency biosphere that promoters of Squid Game Coin have looted the money from the investors. The crypto investors have named it a “rug pull” scam.