Omicron Crypto Coin Soars While Squid Game Warnings Surface
An small unknown crypto coin listed on CoinGecko soared by almost 500% over the weekend while analysts warn about a possible Squid Game hoax. Name of the small crypto in question is Omicron, just like the new Covid variant that is wrecking havoc around the world. Given that the search volume of Omicron is massive at this moment, people are being lured to buy it, while analysts warn that this could just be a hoax.
Omicron team is anonymous
Although there are less than 1,500 accounts following it across Twitter and Discord at the time of writing, many of its followers are hailing the coin.
The Omicron coin on Coingecko was launched only a few weeks ago and is being described as “a decentralized treasury-backed currency protocol” built on Ethereum scaling technology Arbitrum. Given the global public searching for any news surrounding anything Omicron-related, the price shot up from $50 to above $700 in a matter of days.
Furthermore, the website reads that the Omicron team is mostly anonymous, born from the DeFi Community. We aim at becoming a Decentralized Autonomous Organization, and we are actively working towards that goal.
Because of the uncertainty surrounding this new small crypto coin, analysts are warning of a possible ‘Squid Game’ repeat.
The Squid Game hoax was ended with a so-called rug-pull, in which the developers let the coin crash to zero after taking out all the funds. Beware that the Omicron coin could end in the same situation. Until there is more information on this project, we would urge you to do your own research.