Scam Or No Scam, Who Cares? People Just Want To Know 'How To Buy Squid Game Token' As Coin Shoots Up Another 130%

Scam or no scam, there is no stopping the Squid Game SQUID/USD token, which rose 130% over 24 hours at press time.

What Happened: The beleaguered token based on Netflix Inc’s NFLX hit show “Squid Game” shot up 133.41% over 24 hours to $0.7846. Over the last seven days, it has fallen 96.65%.

Against Bitcoin BTC/USD and Ethereum ETH/USD, SQUID soared 156.76% and 157.06% over 24 hours respectively. SQUID’s 90-day gains amount to 544.38%.

United States Google Trends data indicates that interest in the token peaked on Monday afternoon in relation to the search term “squid game token.”

Related queries data indicates that people were searching for “squid game token crypto,” “squid game crypto,” “squid crypto,” "how to buy squid game token" among other terms on Google.

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Why It Matters: SQUID is a token on the Binance Smart Chain or BSC. The decentralized finance marketplace Pancakeswap is also built on the same chain — both are associated with Binance.

Binance launched an investigation into Squid Token and will hand over the findings of its probe to law enforcement, Barron’s reported.

“These types of scam projects have become all too common in the DeFi space,” a Binance spokesperson told Barron’s, as per an earlier report.

Price-tracking website CoinMarketCap has placed a warning on Squid’s price data:

“There is growing evidence that this project has rugged. Please do your own due diligence and exercise extreme caution.”

Price Action: On Thursday, Netflix shares closed nearly 2.9% lower at $668.40 in the regular session.

NFLXNetflix Inc

$1220.50-0.15%