• blockchain&beyond
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  • 28 Oct 24

Meme Coin Trader Lost $1 Million Due to Panic

A trader lost the chance to get rich by selling tokens too early out of panic.

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nfteu
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A trader lost the chance to get rich by selling tokens too early out of panic. If they had held onto the asset, it would now be worth over one million dollars.

Social media is buzzing about a trader who missed the opportunity to earn $1 million. After purchasing 33.7 million MemesAI tokens for 20 SOL (approximately $3,490), they sold them at a loss for 7.79 SOL (around $1,359), not waiting for the price to rise.

According to DEXScreener, when the trader had already sold their coins, MemesAI's growth exceeded 2,700%. Additionally, the token's market value reached about $14 million, with trading volume hitting $21 million. However, given that this is a meme coin, its price could still drop to zero, and such a risk remains.

As of the time of writing, the coin continues to rise, trading at around $0.2681, which is an 8.61% increase over the past day. Meanwhile, its market capitalization has grown to $27 million.

MemesAI to SOL chart price. Source: DEXscreener
MemesAI to SOL chart price. Source: DEXscreener

Let's not calculate how much this trader could have earned by now, nor do we advise rushing to buy this token. Speculation in such a market can lead to both fortune and total loss of investment. So, DYOR.

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