The popularity of the Netflix series ‘Squid Game’ has also affected the cryptocurrency market.
On the 28th (local time), CNBC, an American economic media outlet, reported that a token of the cryptocurrency ‘squid game’ has appeared using the popularity of ‘squid game’.
According to CNBC, the squid game token surged 2400% in 24 hours, and its market cap soared to $174 million (about 203.667 billion won) in an instant.
In response, CoinMarketCap warned investors that it was “reported that the squid game tokens cannot be sold on the decentralized exchange Pancake Swap.”
CNBC explains that this is due to ‘anti-dumping technology’ that prevents token sales if certain conditions are not met and said, “The price of other meme coins more than doubled last week.” It has joined the ranks of other meme cryptocurrencies that are on the rise.”
