$PENGU

How to lose $10 thousand in a matter of seconds

The trader tried to be clever by buying cryptocurrency right when the token was listed on the decentralized exchange Jupiter. However, due to low liquidity, he ended up with only 78 tokens of $PENGU for his $10,000, which were worth about $5 ¯_(ツ)_/¯.

Such traders are called snipers. They find a token contract before it is listed and use bots to quickly buy up tokens, hoping to sell them for a profit as soon as regular users purchase them. This time, the sniper failed and bought a token with a crazy market capitalization of $14 trillion.