Squid became an overnight success and when something like that happens, people try to exploit it to their benefit. The same thing has happened with the Squid Game cryptocurrency. You may have heard the news that the value of the squid currency is skyrocketing, comparable to meme cryptocurrencies like doge and Shiba Inu. However, unlike those coins, which are available on a variety of exchanges; the Squid Game cryptocurrency is exclusively available through its unscrupulous creator. There’s no way of knowing when or if you’ll be able to cash them out, or if they’ll be of any use. So, the wisest course of action is to stay as far away as possible.
According to Business Insider, the squid currency was trading at 1.2 cents on Tuesday and had risen nearly 25,000 percent by Friday. The BBC also emphasized the huge increase in the value of the digital coin. The plan is estimated to include games similar to those seen in the show, with subscribers paying to enter using the squid token.
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Squid Game cryptocurrency might be a scam
However, Gizmodo marks out that there are numerous red flags denoting that the Squid Game cryptocurrency project is a big scam. To begin with, the squid white paper includes “terrible grammar, absurd spelling errors, and impossibly difficult claims.”
All of those are issues that squid developers could address. Perhaps the coin’s enigmatic creators are from another country. Then again, Squid Game is a Korean TV show. Maybe they will not allow communication via Telegram, Twitter, or other social media platforms for the time being.
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