{"id":144766,"date":"2024-12-14T18:00:20","date_gmt":"2024-12-14T16:00:20","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=144766"},"modified":"2024-12-14T13:35:28","modified_gmt":"2024-12-14T11:35:28","slug":"crypto-trader-loses-74k-in-minutes-on-impulsive-memecoin-trades","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/crypto-trader-loses-74k-in-minutes-on-impulsive-memecoin-trades\/","title":{"rendered":"Crypto Trader Loses $74K in Minutes on Impulsive Memecoin Trades"},"content":{"rendered":"<p>The trader made two hasty trades involving a total of 495 <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/solana\/\">SOL<\/a><\/strong>, only to end up with just 169.5 SOL, resulting in a devastating loss of 325.8 SOL.<\/p>\n<p>This loss, reported by <strong><a href=\"https:\/\/x.com\/lookonchain\/status\/1867566267722568105\">Lookonchain<\/a> <\/strong>on December 13, highlights the dangers of emotional trading. At the time, SOL was valued at around $227, meaning the trader effectively lost $74,000, turning an initial investment of $112,000 into just $38,000 within minutes.<\/p>\n<p>The trader&#8217;s strategy began with buying the dip of the RICH memecoin, hoping to capitalize on a potential opportunity. He spent 198 SOL to purchase 4.17 million RICH. Unfortunately, the memecoin&#8217;s price continued to fall, dropping by 60%. Panicking, the trader sold, losing 122 SOL in the process.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/blackrock-leaves-altcoins-behind-focuses-on-bitcoin-and-ethereum-etfs\/\" title=\"BlackRock Leaves Altcoins Behind, Focuses on Bitcoin and Ethereum ETFs\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/blackrock-240x170.jpeg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">BlackRock Leaves Altcoins Behind, Focuses on Bitcoin and Ethereum ETFs<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>However, after the price rebounded, the trader, driven by FOMO (fear of missing out), bought back into the coin, investing another 297 SOL for 8.7 million RICH. But again, the price resistance sent the token lower, prompting another hasty sell-off. This time, he received 93.5 SOL, losing an additional 203.5 SOL.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A cryptocurrency trader lost almost $74,000 in a mere three minutes due to a series of impulsive decisions while speculating on the $RICH memecoin on the Solana network.<\/p>\n","protected":false},"author":9,"featured_media":143228,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[24],"tags":[],"class_list":["post-144766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crypto Trader Loses $74K in Minutes on Impulsive Memecoin Trades<\/title>\n<meta name=\"description\" content=\"A cryptocurrency trader lost almost $74,000 in a 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