'Squid Game' crypto token collapse

Text on the meme

'Squid Game' crypto token cost one Shanghai investor his life savings of $28,000 after coin plunged to near zero PUBLISHED TUE, NOV 2 2021 5:15 PM EDT UPDATED 5 HOURS AGO MacKenzie Sigalos SHARE KEY POINTS A 'Squid Game'-inspired cryptocurrency is trading near $0 after its founders cashed out. On Monday, the SQUID token hit a high of just over $2,860, before plummeting to effectively zero, according to CoinMarketCap.

What it means

A news article screenshot reports that a Squid Game-inspired cryptocurrency cost a Shanghai investor his $28,000 life savings after its founders cashed out and the token collapsed. The joke comes from the absurd contrast between the popular survival-game reference and the real-world financial loss, making it useful as a reaction to disastrous investments or crypto scams.

Who

MacKenzie Sigalos

Objects

news article screenshot / скриншот новостной статьи headline text / текст заголовка article body / текст статьи blue divider line / синяя разделительная линия bullet points / пункты списка social media icons / иконки соцсетей cryptocurrency token / криптовалютный токен dollar amount / сумма в долларах upward arrow button / кнопка со стрелкой вверх