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squid lost millions in minutes: investors lose millions in Squid Game cryptocurrency: millions of dollars lost in 5 minutes, this cryptocurrency made investors poor

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squid lost millions in minutes: investors lose millions in Squid Game cryptocurrency: millions of dollars lost in 5 minutes, this cryptocurrency made investors poor

Highlights

  • SQUID gives more than 30,000% return in 4 days
  • But within 5 minutes it came to the floor with crypto ash
  • More than 40,000 people still have Squid
  • But now its value is almost zero.

New Delhi
South Korean drama Squid Game on the online streaming service Netflix has created panic all over the world these days. The cryptocurrency SQUID associated with the show gave investors over 1000% returns in less than 30,000 hours. But within a few hours, it fell drastically and its price became almost zero. When its price had gone up, investors could not sell it and now it is worth a penny.

Squid started trading early last week. Then it was a penny price. But suddenly its price started increasing. Its price reached $38 on the crypto exchange Pancakeswap. According to CoinMarketCap, its price had risen from $628.33 to $2,856.65 in ten minutes on Monday. But after 5 minutes it came down to $0.0007.

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from floor to floor
According to blockchain search engine and analytics platform BscScan, more than 40,000 people still have Squid despite the steep drop. These include John Lee, 30, of Manila. He spent $1000 to buy this token. He was surprised to learn that he could not sell it immediately. Now he can sell it but its price is almost zero.

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The reason for the fall in the price of squid is not clear. No one even knows about its creators. Its website has also disappeared and social media channels have been shut down. Trading platform Pancakeswap also did not respond. Molly Jane Zuckerman, Head of Content at CoinMarketCap, feared it could be a case of fraud. The investors who ran this cryptocurrency stunned the investors.

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Experts had warned
Experts warned investors about this token. He said that users are not able to sell it on Pancakeswap. Therefore, investors need to trade cautiously. The pre-sale of this crypto started on 20 October and its whitepaper claims that it sold out in a second. Squid Game has become the most watched show on Netflix.

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