Cryptocurrency traders constantly look for the next big project to yield significant profits. However, not all of their investments result in massive gains.
A recent report by Lookonchain revealed that a trader lost more than $1 million within three days.
When Buying High Doesn’t Result In Selling Higher
According to the blockchain research platform Lookonchain, a crypto trader lost 6,039 SOL over the last three days after FOMO-buying a memecoin. Per the report, the trader bought Slerf (SLERF) for 4,958 SOL, worth around $1 million.
The different transactions occurred when the price hovered between $0.8 and $1.4 on its launch day. A couple of hours later, the trader sold its SLERF tokens, losing 2,793 SOL after the token’s price plunged to the $0.4-$0.6 range, for a loss of $564,000.
This #FOMO buyer sold all $SLERF at a loss of 6,039 $SOL($1.15M) again.
Then he deposited all his $SOL to #Binance and may no longer trade #MEMEcoins.https://t.co/ubHQwYoM54 pic.twitter.co
We współpracy z: https://www.newsbtc.com/news/buy-high-sell-low-fomo-made-this-crypto-trader-lose-6039-sol/
