How to Lose $10K in Seconds
💤 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 tokens—worth just $5. Ouch. ¯\(ツ)/¯
🗿 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.
