untitled design

User lost $152,000 in three days due to memcoins

An unknown trader lost a total of 754 SOL ($152,320 at the time of writing) in three days on memcoin price surges. Looksonchain experts report this.

The user invested primarily in little-known memcoins. Among them there are, for example, BOOK OF PEPE (BOPE), IQ50 (IQ50), DogWifHat Twin (SAM) and others.

The minimum investment was 1.1 SOL ($222), the maximum was 1150 SOL ($232,300). In total, the trader spent 3,160 SOL ($638,320) on investments.

After selling the tokens, he received 2406 SOL ($486,000). Thus, his net loss amounted to about $152,000. It is noteworthy that absolutely all of the investments analyzed brought him only losses.

Experts noted that the trader, judging by his behavior, is susceptible to the syndrome of lost profits (FOMO).

This was expressed in the fact that the user bought tokens in the growth phase and sold them when they fell.

The memcoin market is highly volatile. There have been similar precedents before. For example, one trader became a millionaire thanks to investments in PEPE, another lost $540,000 on this asset.


Source: Cryptocurrency

You may also like

Get the latest

Stay Informed: Get the Latest Updates and Insights

 

Most popular