{"id":599229,"date":"2025-03-22T21:00:31","date_gmt":"2025-03-22T21:00:31","guid":{"rendered":"https:\/\/wncen.com\/?p=599229"},"modified":"2025-03-22T15:20:57","modified_gmt":"2025-03-22T15:20:57","slug":"buy-high-sell-low-fomo-made-this-crypto-trader-lose-6039-sol","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/buy-high-sell-low-fomo-made-this-crypto-trader-lose-6039-sol\/","title":{"rendered":"Buy High, Sell Low: FOMO Made This Crypto Trader Lose 6,039 SOL"},"content":{"rendered":"

Cryptocurrency traders constantly look for the next big project to yield significant profits. However, not all of their investments result in massive gains.<\/p>\n

A recent report by Lookonchain revealed that a trader lost more than $1 million within three days.<\/p>\n

Related Reading: Leading The Pack: Solana Captures Nearly 50% Of Global Crypto Attention<\/a><\/div>\n

When Buying High Doesn\u2019t Result In Selling Higher<\/h2>\n

According to the blockchain research platform Lookonchain, a crypto trader lost 6,039 SOL over the last three days after FOMO-buying a memecoin<\/a>. Per the report, the trader bought Slerf (SLERF) for 4,958 SOL, worth around $1 million.<\/p>\n

The different transactions occurred when the price hovered between $0.8 and $1.4 on its launch day. A couple of hours later, the trader sold its SLERF tokens, losing 2,793 SOL after the token\u2019s price plunged to the $0.4-$0.6 range, for a loss of $564,000.<\/p>\n

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This #FOMO<\/a> buyer sold all $SLERF<\/a> at a loss of 6,039 $SOL<\/a>($1.15M) again.<\/p>\n

Then he deposited all his $SOL<\/a> to #Binance<\/a> and may no longer trade #MEMEcoins<\/a>.https:\/\/t.co\/ubHQwYoM54<\/a> pic.twitter.com\/RIJkDF103C<\/a><\/p>\n

— Lookonchain (@lookonchain) March 21, 2024<\/a><\/p><\/blockquote>\n