From Squid coin to memes, the ‘Wild West’ of crypto

A representation of cryptocurrency Dogecoin. Since the start of the year, two dog-themed units have seen their values soar – Dogecoin created as a joke in 2013 and Shiba Inu born in 2020. — Reuters

LONDON: From a dodgy digital currency inspired by Netflix hit Squid Game to highly-volatile dog-themed coins, the cryptocurrency sector has become riskier than ever as it soars in value.

The combined value of all cryptocurrencies topped US$3 trillion (RM12.44 trillion) for the first time on Monday, as more mainstream investors rush into the sector.