It’s easy to get get caught up in the hype of cryptocurrencies.
Unfortunately, cryptocurrency trading often results in far more losers than winners.
The latest example comes courtesy of a cryptocurrency attempting to profit around the hype surrounding the TV showSquid Game.
As memecoins sometimes do, it exploded in growth.
After listing at 12 cents, on early Monday morning it briefly hit a peak of $2,800.
Then, as memecoins arealsoknown for doing, it all crashed.
Though there are real cryptocurrencies with teams of developers behind them, there are many, many more scams.
The Squid Game coin featured all the hallmarks of a crypto scam, as Gizmodohelpfully pointed out last week.
In other words, once you buy, you’re free to’t sell.
Scammers sometimes take advantage of this with the aforementioned “anti-dump” liquidity locking.
