Changing Input Data When Outputting It in React

Let's say we're going to enter a number into the input. Let's make it so that as we enter a number into the input, the square of the number entered is displayed in the paragraph:

function App() {
	const [value, setValue] = useState(0);
	
	function handleChange(event) {
		setValue(event.target.value);
	}
	
	return <div>
		<input value={value} onChange={handleChange} />
		<p>{value ** 2}</p>
	</div>;
}

Input is given. A paragraph is given. Make it so that when text is entered into the input, the number of characters entered into the input is displayed in the paragraph.