The South Korean survival drama SQUID Game, which aired on Netflix, got a lot of excitement among the people and it turned out to be a Netflix all-time mega hit.
This SQUID game from South Korea now has a cryptocurrency brand of its own. There was also a lot of enthusiasm among investors regarding this crypto token. This is a play t earn crypto. Which is based on the theme of the SQUID game series aired on Netflix.
In this game an investor has to buy a token to participate in the online game. You can buy more tokens after every win. The launch of this crypto saw a jump of 24,00 percent within just 24 hours and its market cap reached $174 million.
Such a jump in this new cryptocurrency was unexpected. The presale of this cryptocurrency started on 20 October and it completely sold out within 1 second. But after that the SQUID token suddenly showed a 99 percent dive and within the second second slipped from $2861 to $1, losing almost all its gains.
Netflix’s Squid Game breaks all records, becomes most-watched series with 111 million views
This happened after Twitter warned that the official account of SQUID looked suspicious. It has only a little more than 7 lakh subscribers, due to which there is doubt about it. According to MarketCoin, at the time of writing the news, the SQID token was claimed to still have a market cap of $1,802,875. Based on this data, its market cap fell by 99.99 percent. Along with this, the white paper and official website related to this token also seems to be completely missing.
Coin MarketCap has posted a future notice regarding this token, stating that it has received information that users are unable to sell this token on Pancakeswap. Coin Markets has given information for investors to be careful in trading this token. Apart from this, such information has also come that the website and social media platforms related to this token are not working at this time. Before doing any business in SQUID, do your own research.
Along with this, it has also been feared that whether this token is related to Netflix’s SQUID game or not, it cannot be confirmed, because its IP is different. After this warning on the coin market website, this new token SQUID saw a huge drop and has lost 99.99 percent of its gain within about 1 second.
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