An unknown trader lost more than $341,000 due to the DJT memecoin, which US presidential candidate Donald Trump is rumored to be involved in the creation of. This was reported by the analytical company Lookonchain.
What a sad story!
This guy spent 2,500 $SOL($342.1K) to buy 91,705.6 $DJT but only got 4.91 $SOL($673) back when he sold it.
He lost $341.4K in less than 1 minute!https://t.co/jrL0ZGa76Dhttps://t.co/qICy7GZfmj pic.twitter.com/olr78X8snp
— Lookonchain (@lookonchain) June 18, 2024
Experts noted that the investor spent 2,500 SOL ($342,100 at that time) to purchase 91,705 DJT. However, almost immediately he sold the assets for 4.91 SOL ($673). Thus, he lost about 2,495 SOL ($341,400) in less than one minute.
Note later in Lookonchain wrotethat the new wallet, who may be an insider, spent 1,363 SOL (about $188,000) to buy 52.09 million DJT before the news that Trump was possibly involved in this asset.
After the announcement, he acquired another 6.62 million DJT. At the time of writing, the wallet holds 58.71 million DJT worth $1.56 million and is the third largest owner of the asset.
Source: Cryptocurrency
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