A misstep by an investor with memecoins results in a lack of $147,000 on Solana

• Investor loses 754 SOL ($147,000) buying and selling 11 meme cash on Solana.
• The “purchase excessive, promote low” sample resulted in losses for 11 traded tokens.
• The dealer’s funding of three,160 SOL returned 2,406 SOL.

A latest evaluation by Lookonchain highlighted a person who was shedding cash buying and selling meme cash on the Solana blockchain. Over three days, the investor traded 11 completely different meme cash, with every transaction leading to a loss.

In accordance with the evaluation, this sequence of investments resulted in a complete deficit of 754 SOL, which on the time of the report was equal to roughly US$147,000.

The expertise of the meme cryptocurrency investor on the Solana platform started with the acquisition of SNAP ($SNAP), totaling 500 SOL. Nonetheless, the commerce didn’t yield the specified outcomes and SNAP ended up with a lack of SOL 277.32.

This sample of loss was repeated throughout the spectrum of equally themed cash. “LIKE THIS COIN” (LIKE) noticed an funding of 1,150 SOL however returned a lack of 135.41 SOL. Smaller losses had been noticed for the shops “SORRY” (SORRY), “buk of mem” (bume) and “BOOK OF PEPE” (BOPE).

Moreover, “The E-book of Lacking Out” (BOMO) and “Bibi on SOL” ($BIBI) additionally failed to flee the bearish development, posting losses of 29.93 and 148.74 SOL. Different property within the investor’s portfolio included “IQ50” (IQ50), “U SELL U GAY” (USUG) and “DogWifHat Twin” (SAM), every of which contributed to the general shortfall. Uncooked Rooster Experiment (JOHN) closed the listing with a nominal funding of 10 SOL and a lack of 3.7 SOL.

This loss report was mirrored within the last whole, with a complete of three,160 SOL invested and solely 2,406 SOL returned. The account’s transaction historical past, publicly out there on Solscan, highlights a sequence of transactions characterised by a sample of shopping for excessive and promoting low.