Squid Game cryptocurrency re-emerges amid Netflix hype
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The cryptocurrency market often reflects broader cultural phenomena, and the recent resurgence in the trading volume of the Squid Game token (SQUID) is a prime example. Originally launched in late 2021, SQUID gained notoriety for its dramatic plunge and the subsequent scandal involving its developers. Despite its troubled past, the token is now witnessing a notable uptick in trading activity, prompting investors to take a closer look. SQUID initially captured the market’s attention, only to plummet by over 99.99%, resulting in significant investor losses. The downfall was attributed to a rug pull by anonymous developers who reportedly absconded with about $3.4 million, according to BscScan transaction records. This event marked one of the most significant scams in crypto history and left the SQUID token in a state of disarray. Transaction records. Source: BscScan Fast forward to the present, and SQUID is experiencing renewed interest from traders. This surge is intriguingly timed with the announcement of “Squid Game the Challenge“, a reality competition show inspired by the popular Netflix series. The show’s connection to the token’s theme has sparked renewed curiosity among traders and investors alike. Is there still hope? The popularity of the Netflix series Squid Game led to the emergence of a fraudulent token, capitalizing on the trend. However, the token is now experiencing some trading activity on the network due to the emergence of Squid Game the Challenge, a new reality competition show inspired by the series. SQUID one month trading volume. Source: CoinMarketCap As of the time of the writing, the current price of SQUID stands at $0.0109, accompanied by a 24-hour trading volume of $338,890, and the token has experienced a 0.6% decrease in its price in the last 24 hours. The circulating supply of SQUID is undisclosed, but the max supply is capped at 800.00m.…
Filed under: News - @ November 30, 2023 11:18 am