Lookonchain (@lookonchain): This trader lost $73.9K trading #memecoins in just 3 minutes!
Estimated coin impact
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This trader lost $73.9K trading #memecoins in just 3 minutes! He made common mistakes that many traders fall into — a lesson for us all. The trending memecoin $rich caught this trader's attention as its price dipped. Seizing what seemed like an opportunity, he spent 198 $SOL to buy in. Unfortunately, the price plummeted 60% after his purchase, and he panic-sold all for 76 $SOL, taking a 122 $SOL loss. As $rich began to rebound, the trader succumbed to #FOMO, reinvesting 297 $SOL. However, the price dropped another 60%, and he panic-sold for 93.5 $SOL, losing an additional 203.5 $SOL. In total, he lost 325.8 $SOL($73.9K) in just 3 minutes. Ironically, $rich soared 30 minutes later. If he had held his position instead of selling in panic, he might have turned his losses into gains. Address: solscan.io/account/BBgwD3…