- Investor loses 754 SOL ($147,000) buying and selling 11 meme cash on Solana.
- The βpurchase excessive, promote lowβ sample resulted in losses for 11 traded tokens.
- The dealerβs 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 didnβt 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. βLIKE THIS COINβ (LIKE) noticed an funding of 1,150 SOL however returned a lack of 135.41 SOL. Smaller losses had been noticed for the shops βSORRYβ (SORRY), βbuk of memβ (bume) and βBOOK OF PEPEβ (BOPE).
Moreover, βThe E-book of Lacking Outβ (BOMO) and βBibi on SOLβ ($BIBI) additionally failed to flee the bearish development, posting losses of 29.93 and 148.74 SOL. Different property within the investorβs portfolio included βIQ50β (IQ50), βU SELL U GAYβ (USUG) and βDogWifHat Twinβ (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 accountβs transaction historical past, publicly out there on Solscan, highlights a sequence of transactions characterised by a sample of shopping for excessive and promoting low.
Disclaimer: The data supplied on this article is for informational and academic functions solely. This text doesnβt represent monetary recommendation or recommendation of any variety. Coin Version shall not be answerable for any losses incurred on account of the usage of mentioned content material, services or products. Readers are suggested to train warning earlier than taking any motion associated to the Firm.