The crypto trader lost $74k trading a shitcoin in just 3 minutes — he bought the meme coin RICH and adhered to the 'golden' rule: buy at the highs, ride the... down.
The trader bought RICH for 198 SOL, but the shitcoin collapsed by 60% and the crypto trader panicked and sold it for 76 SOL, losing 122.$SOL .
When the price of the shitcoin started to rise, he bought it again for 297.$SOL and again panicked and sold at the drop for 93.5 SOL, ultimately realizing a total loss of 325.8.$SOL ($73,900).
Interestingly, if he hadn't succumbed to panic, he could have realized a profit of $278k after 30 minutes.