I haven’t seen people talking about this kind of affliction, but the addicts suffering from uncontrollable online stock trading are no less serious than what ails the gambler who can’t stay away from gambling. While talking in the local context, I have seen online traders here who do nothing else but remain busy in trading stocks and their tendencies are of a compulsive gambler.
Meanwhile, we are witnessing a meme coin craze among retail investors who are fearlessly investing after top meme based cryptocurrencies, Dogecoin and Shiba Inu, witnessed massive rallies last week. However, a SQUID meme coin proved a fraud and stoked fears among the meme-coin investors. In a bizarre movement, the price of SQUID meme-coin, launched on October 26, rose over 23,000,000% in a week before falling to nothing on November 02, according to data from CoinMarketCap. It peaked at around $2,862 before falling to a fraction of a cent in a matter of minutes. Known as a rug-pull type of scam, the anonymous founders of the coin suddenly pulled out, taking about $3.4 million of investors’ money with them.