The popularity of Squid Game has opened up numerous business opportunities for a variety of products and services. From hot girls and streamers competing in cosplay to cafes popping up with challenges similar to those in Squid Game. But recently, the cryptocurrency community was quite surprised to witness the emergence of Squid Coin (abbreviated as SQUID) – a coin believed to have been created in response to the wildly popular series. However, what’s even more unusual is its unpredictable rise and fall.
Reports indicate that within just 24 hours, the price of Squid Coin soared to $2.22, which is nearly a 2400% increase in a single day, with trading volume reaching up to $174 million. On the 29th, the price of Squid Coin even climbed to $4.63 – double the previous record. However, it should be noted that not long ago, Squid Coin also experienced some unusual fluctuations. On October 7th, the price of this token surged from $0.000129 to $0.458, but shortly thereafter, on October 8th, we needed to divide by 3,500 to find the price of Squid Coin. Keep in mind, this was within just one day. Currently, compared to the record high on October 7th, Squid Coin has increased in value by 10 times.
There’s no denying the impressive price increase of Squid Coin, yet several exchanges have also raised warnings that many people are currently complaining about their inability to sell their Squid Coins. The reasons are still unclear, but according to many, Squid Coin has some stipulations upon purchase, including a no-sell rule unless investors meet certain conditions.
Additionally, Squid Coin is believed to be released as the exclusive currency for an upcoming Squid Game NFT project – set to launch this November, replicating all 6 rounds of the famous Squid Game series. The winner will receive unlimited cash prizes, and of course, players won’t face the same fate as in the show, but they may leave empty-handed after having to spend a certain amount to participate.
According to some sources, to reach the final round of this NFT Squid Game, players will need to pay approximately 15,000 Squid Coins, around $33,450 at the current time. 10% of this entry fee will go to the publishers, while the remaining 90% will be allocated to the total prize pool for the winner. There is no limit on the number of players.