LIVE
Mahnoor Kattak Queen
--
Bullish
$PENGU
How to lose $10k in seconds
A trader tried to be clever by buying crypto right when a token was listed on the decentralized exchange Jupiter. However, due to low liquidity, he ended up with only 78 $PENGU tokens for his $10,000, which were worth about $5 ¯_(ツ)_/¯.
Traders like this are called snipers. They find the token contract before it’s listed and use bots to buy up the tokens quickly, hoping to sell them for a profit once regular users buy in. This time, the sniper failed and bought a token with a crazy market cap of $14 trillion.
How to lose $10k in seconds
A trader tried to be clever by buying crypto right when a token was listed on the decentralized exchange Jupiter. However, due to low liquidity, he ended up with only 78 $PENGU tokens for his $10,000, which were worth about $5 ¯_(ツ)_/¯.
Traders like this are called snipers. They find the token contract before it’s listed and use bots to buy up the tokens quickly, hoping to sell them for a profit once regular users buy in. This time, the sniper failed and bought a token with a crazy market cap of $14 trillion.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
0
0
Replies 0