Squid Game, the new Korean Netflix show about the lethal tournament of adults competing in children’s games is the talk of the hour. But, the Korean show isn’t the only thing that is trending as a cryptocurrency about Squid Game called SQUID is surging in price exponentially.
The cryptocurrency of the show SQUID is trading at $2.22, up more than 2,400% during the last 24 hours. Meanwhile, the token’s market capitalization surged above $174 million.
Nonetheless, before investing in the stock; investors might have to take caution. According to CoinMarketCap, there were “multiple reports” from users. The warning stated that several users weren’t able to sell SQUID on Pancakeswap — a popular decentralized exchange platform.
The reason behind that is still unclear. However, the SQUID whitepaper has described that sellers can’t sell the coin under some conditions as an anti-dumping technology.
SQUID to launch a tournament similar to the show
The digital token started its presale on October 20. According to its white paper, it “sold out in 1 second”. And, this is not the first time that a parody cryptocurrency surges in price in such a manner and get sold out in a record time. For instance, the Shiba Inu coin has doubled its price in the last week.