The value of the Shiba Inu meme coin increased almost tenfold in October. In the meantime, the coin made it into the top ten most valuable cryptocurrencies by market capitalization. But for a few days now, the hype has been followed by the correction. On the Internet, crypto fans discuss the seriousness and meaningfulness of the cyber motto. After all, the crypto currency for the Netflix series “Squid Games” recently raised awareness of the dangers of scam when trading digital money.
The Squid Coin experienced a price increase of more than 28.5 million percent within a few weeks. Then, however, the price suddenly collapsed and the value sank to almost zero. The coin turned out to be a fraud. Investors are said to have suffered damage of 3.4 million euros. How dangerous are investments in meme coins and what warning signals should investors watch out for? Is the Shiba Inu-Coin serious and does it still have price potential? Capco digital expert Alexander Braun has the answers. He subjects the fun currency to a reality check.
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