‘Squid Game’ cryptocurrency skyrockets 40,000 percent in first week

The price of a new cryptocurrency inspired by the hit Netflix series “Squid Game” has skyrocketed 40,000 percent in just its first few days of trading.

As of 7:45 a.m. Friday, the “Squid Game” token, SQUID, stood at $5.41 — up from $0.01235 when it began trading on Tuesday, according to CoinMarketCap.

The relatively obscure crypto is up more than 200 percent in the past 24 hours and it now commands a market capitalization of more than $419 million.

While the rapid spike in price may be tempting for traders, CoinMarketCap warns on its site that some people appear to not be able to sell the coin once they buy it.

‘Squid Game’ cryptocurrency skyrockets 40,000 percent in first week