Despite Squid Game’s active growth last week, the altcoin’s price plummeted to nearly zero. The project’s social media and official website are now inaccessible to users.
During the week, the token based on the popular series “Squid Game” appreciated from $0.01 to $2.8 thousand. Now the value of the altcoin has fallen by almost 100%, reaching $0.008. Experts attribute the growth of the token to the inability to sell the coins purchased. This information was indicated in the white paper of the project.
According to cryptocurrency exchanges, cryptocurrency based on the famous TV series was bought by more than 40 thousand cryptotraders. The project’s management reported plans to hold an online “Squid Game” style tournament, which was scheduled for November. SQUID digital coins were intended to pay for participation in the tournament. After the event, project managers promised to pay the winner 90% of the money raised. 10% will go to the developers of the token.