Hear of the show Squid Game? It's all the hype. That;s why someone invented a token based on the show. So the mem-verse of stupidity in general population aped into the hype.
If you didn't hear, the token went up 40,000%, from $0.012 to over $500 in the first week of it's existence.
And then... crash!
It's now worth $0.003282! That's worth less than when it started!
HAHAH!
Newbs got rekt!
Serves them right.
Coinmakretcap has a warning at the top of their site now since the crash:
We have received multiple reports that the website and socials are no longer functional & users are not able to sell this token in Pancakeswap. There is growing evidence that this project has rugged. Please do your own due diligence and exercise extreme caution. This project, while clearly inspired by the Netflix show of the same name, is NOT affiliated with the official IP.
https://coinmarketcap.com/currencies/squid-game/
Suckers gonna be suckers. It's a good lesson to learn... apparently the HARD WAY for many! All of crypto is like a ponzi scheme since most tokens have 0 utility in the long term. Get in early before everyone else, then cash out when it goes up. Why? Because that's what the players are going to do.
Welcome to DeFi. Opportunities to make money while leaving others with the bag. Just like Wall Street ;) Same ol bs, but at least it's not regulated and controlled and so many barriers to entry. Play the game or don't. Do your research before thinking something will have long term value.
Posted Using LeoFinance Beta
There will always be people buying into hypes and memecoins… It is extremely unhealthy for cryptos to have those “moonboys”