Warning Against FOMO Buying MEMEcoins
8/8/2024 7:14:11 PM
According to Lookonchain, a trader experienced a significant loss due to FOMO buying of MEMEcoins. The individual spent 5,800 SOL (approximately $916.4K) to purchase 7.2 million RTR coins at their peak price. However, within just four hours, the value of RTR crashed, forcing the trader to sell all their holdings for only 113.3 SOL (approximately $18K), resulting in a loss of 5,687 SOL (about $898.5K). This incident serves as a cautionary tale against impulsive investments driven by fear of missing out. (Source)
Lookonchain SOL memecoins RTR FOMOMore from Lookonchain (@lookonchain): Looking for smartmoney onchain