Squid Game Cryptocurrency: Squid Game, a South Korean drama that has recently gotten a lot of publicity on Netflix, has now become a crypto hit as well. Squid Game has taken over the bitcoin world after conquering the entertainment sector, but investors should proceed with caution.
Since its release, Netflix’s Squid Game has swept the globe. The most-watched Netflix show in history has spawned a slew of parodies, plagiarised adaptations, bizarre cosplays, and real-life recreations all around the world. However, the most recent item may have the greatest stakes of all.
SQUID, the show’s own cryptocurrency, has astronomically rewarded investors with an extremely strong surge of up to 30,000 percent in just a few hours.
Squid Game Token (SGT) was launched on October 20 and sold out in a matter of seconds. Its worth was already sky-high within a week of its inception.
From $0.01236 on October 26 to $4.15 on October 29, the digital currency increased by 34,285 percent in less than 100 hours. As of 2.45 IST on October 29, the stock has a market cap of $335 million. According to data from coinmarketcap.com, this token has turned a $1,000 investment into Rs 3,43,850 in under four days.
How to buy Squid Game Token?
The tokens are available for purchase on the well-known decentralised exchange pancakswap.com. To play the games, you must pay a set amount of money for tokens. Looking at current prices, this isn’t a good deal. In some rounds, players are obliged to acquire custom-made NFTs. Take a look at the steps below:
- To purchase SQUID, one must first purchase one of the current coins, such as Bitcoin, from any exchange.
- Buyers can then exchange these cryptos for SQUIDS using Pancakeswap, a decentralized exchange.
- There is a current price to enter the games, which is extremely exorbitant given the current demand.
What is Squid Game Token (SGT)?
Squid is a play-to-earn crypto token, which means that people have to buy tokens that allow them to play online games. You gain extra tokens if you win the games.
This coin is inspired by the dystopian Netflix series that has recently taken the world by storm and become the service’s most popular original show.
Tokens earned through play-to-earn can be exchanged for other cryptocurrencies or fiat currency. Users, on the other hand, have reported having trouble cashing in their Squid.
The coin’s creators claim to be employing “innovative” anti-dumping technology to prevent users from selling their coins if there aren’t enough buyers.
The new cryptocurrency has experienced a meteoric rise, gaining 62,833 percent from Tuesday to $7.54 on Friday morning. According to Coin Market Cap, it has increased by 147.26 percent in the last 24 hours.
The Squid token was launched as the exclusive coin of the Squid Game project – a crypto play-to-earn platform but users are not able to sell this token on Pancakeswap, they have not yet understood the rules of the game 😂 pic.twitter.com/8X5mOIb4nJ
— Alae Eddine Lahlali (@AladinLahlali) October 28, 2021
Can you Sell Squid Game Coins?
Is it possible for you to sell Squid? According to BBC News, “Squid has been attacked for not allowing investors to resell their tokens.” Indeed, CoinMarketCap issued a cautionary statement on the cryptocurrency, stating that there have been reports that it cannot be resold.
Squid Game Cryptocurrency: Should You Buy/ Invest?
SQUID rates are at an all-time high, but numerous experts have questioned its legitimacy. Users were unable to sell the Squid Game Token on Pancakeswap, according to CoinMarketCap. The inventors of SQUID used “anti-dumping technology” to ensure that people could not sell the coins if certain requirements were not followed, according to its “White paper.”
— Dave A D M I N Informed (@Morpher_World) October 27, 2021
⚠️ WARNING ⚠️
A new token, Squid Game (SQUID), inspired by the Netflix show, has posted 45,000% growth, but multiple investors are reportedly unable to sell.
— Crypto Gem Finds (@CryptoGemFinds) October 29, 2021
Squid Game Cryptocurrency Price Chart
We are here 👀 LETS GO THE MOON🚀🚀 pic.twitter.com/Lh7AiFii1l
— Squid Game Token (@_SquidGameToken) October 25, 2021