Cryptorabi
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How to Lose $10K in Seconds
๐ค A trader attempted to outsmart the system by purchasing crypto immediately after a token was listed on the decentralized exchange Jupiter. However, due to low liquidity, their $10,000 investment only yielded 78 $PENGU tokensโworth just $5. Ouch. ยฏ\(ใ)/ยฏ
๐ฟ These types of traders, known as "snipers," use bots to locate token contracts before listings, buying up tokens early with the intent of selling them for a profit once regular users enter the market. Unfortunately for this sniper, they miscalculated and ended up purchasing a token with a ridiculous market cap of $14 trillion.
Moral of the story? Even the sharpest strategies can backfire when liquidity and market dynamics are overlooked.
$PENGU
๐ค A trader attempted to outsmart the system by purchasing crypto immediately after a token was listed on the decentralized exchange Jupiter. However, due to low liquidity, their $10,000 investment only yielded 78 $PENGU tokensโworth just $5. Ouch. ยฏ\(ใ)/ยฏ
๐ฟ These types of traders, known as "snipers," use bots to locate token contracts before listings, buying up tokens early with the intent of selling them for a profit once regular users enter the market. Unfortunately for this sniper, they miscalculated and ended up purchasing a token with a ridiculous market cap of $14 trillion.
Moral of the story? Even the sharpest strategies can backfire when liquidity and market dynamics are overlooked.
$PENGU
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.ย See T&Cs.
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