The huge popularity of Squid Game has opened up tons of business opportunities across many products and services. From hot girls and streamers racing to cosplay the show’s characters to cafes offering challenges inspired by the series. But recently, the crypto community was caught off guard by the launch of Squid Coin (SQUID), a cryptocurrency riding the wave of the hit series. What’s stranger is how wildly unpredictable its price has been.
Records show that within 24 hours, Squid Coin’s price hit $2.22, a nearly 2400% increase in just one day, with trading volume reaching $174 million. On October 29, its price even jumped to $4.63, doubling its previous record. But keep in mind, not long ago, Squid Coin’s price swung wildly. On October 7, it surged from $0.000129 to $0.458, then the very next day, October 8, it plunged by 3,500 times. All within a single day. Currently, compared to the October 7 peak, Squid Coin’s price is up tenfold.
While Squid Coin’s rapid rise is undeniable, some exchanges have issued warnings as many users complain they can’t sell their Squid Coins. The reasons remain unclear, but reports suggest Squid Coin has purchase rules, including anti-selling policies unless investors meet certain conditions.
Additionally, Squid Coin is said to be the exclusive currency for a Squid Game NFT project launching this November. The game will simulate all six rounds from the famous series. Winners get unlimited prize money, and while players won’t face the deadly consequences from the show, they risk losing their entry fee.
Sources say to reach the final round of this Squid Game NFT, players must pay about 15,000 Squid Coins, roughly $33,450 at current prices. Ten percent of entry fees go to the developers, while 90% fund the total prize pool. There’s no limit on the number of players.
