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- Published: October 31, 2021 16:22
New Delhi: Ever since its release, Netflix’s Squid Game has emerged as the most popular show across the globe. Be it for the script or several parodies, plagiarised adaptations, strange cosplays, or real-life recreations, the K-drama has gathered the craze of all the audiences. However, what attracted attention more was its entry into the cryptocurrency world.
We are here ? LETS GO THE MOON?? pic.twitter.com/Lh7AiFii1l
— Squid Game Token (@_SquidGameToken) October 25, 2021
A cryptocurrency token named Squid Game Token (SGT) was launched on October 20. Within seconds, the digital token was sold out. Moreover, in just a week of its arrival, the value of the token reached record-breaking heights.
How to buy Squid Game tokens
Unlike the process of buying Bitcoin and Ethereum, buying Squid Game tokens are a little complicated. Besides, the token is listed on the Binance Smart Chain. Firstly, to buy the token, the trader should invest in one of the existing digital coins like Bitcoin, from any crypto exchange platform. Secondly, using Pancakeswap, which is a decentralised exchange, the trader can exchange these cryptos and buy Squids. Lastly, to enter the game, exist a current price whose demand is sky-high.
Squid game token on Binance Smart Chain. There is 10 million $$ of liquidity in the pool, much more than expected pic.twitter.com/SgedHxWiQ4
— Inequality investments (@Alfietrade) October 30, 2021
Besides, in several rounds, the traders need to buy custom-made NFTs, which can range at least $33,450.
What is a Squid Game token?
Also known as “play-to-earn” cryptocurrency, the token has hit the existing crypto world with a sky-rocketing surge. Based on the popularity of the K-drama Squid Game, the digital token has risen from 62,833% since Tuesday to $7.54 till Friday morning. According to CoinMarketCap, the token has surged over 147.26% over the last day.
Reportedly, the digital coin is the pathway ticket to the online version of Squid Game. The game will come into action from November will have six levels like the show.
The players accordingly can cross different levels and collect more SGTs.
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
Besides, the currency code of this crypto is SQUID, which carries a logo resembling the one shown in the K-drama.
Currently, SQUID is priced at $13.62.
Should you invest in SQUID?
With the sky-rocketing prices, several investors have questioned the authenticity of digital token. Besides, several traders have lodged complaints that they were been unable to sell off the Squid Game Token on Pancakeswap.
Besides, the “white paper” of SQUID has stated that the creators of the digital coin have issued “anti-dumping technology” to ensure traders cannot sell off the coin until certain criteria are met.
Is squid game token a scam ?
Is that true ? Look the picture What they wrote me#squidgame #fake? #Crypto #scammer #btc #Bitcoin #vra #shib #Doge NEED HELP pic.twitter.com/kaGYax3cPr— Dave A D M I N Informed (@Morpher_World) October 27, 2021
someone created a fake crypto currency based on squid games named “SQUID” it inflated 4300% in price but it turns out it’s a scam because it can’t be sold for profit. it’s likely a rug pull and the developers are about to steal millions. the poetry and the irony? *chefs kiss*
— dj franzia (@hawillisdc) October 29, 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.
The white paper is littered with poor grammar, spelling errors and claims that cannot be validated.#CryptoNews #crypto pic.twitter.com/JosLRlZROT
— Crypto Gem Finds (@CryptoGemFinds) October 29, 2021
Since the online game is not available till now, several people have claimed it to be a fake one.