Squid Game Is Memecoin Warning With Wipeout After 230,000% Gain

Investors drawn to cryptocurrencies can be forgiven for having an expectation of high returns, especially lately. After all, even as the S&P 500 Index more than doubled in the past five years, Bitcoin rocketed more than 80-fold -- albeit with much of the rally occurring in the past year. “Memecoins” such as Dogecoin and Shiba Inu have also surged, often for no particular reason.

Big gains aren’t a given, though, especially in a market as untamed, sprawling and speculative as crypto. And the inflation in value is often ephemeral. For evidence, there’s Squid Game, or SQUID, the latest memecoin sensation, ...