According to Odaily, a new address identified as BrFjj...pgjCc purchased 350,000 units of DORAE at a peak price, spending 5710 SOL (equivalent to approximately $747,000). The cost per unit was $1.936. However, within an hour of this transaction, DORAE's value plummeted by nearly 99%. The address then liquidated its entire DORAE holdings at an average price of $0.0868 per unit, resulting in a loss of nearly 96%.
The sudden and drastic drop in DORAE's value, known as a 'flash crash', occurred just five minutes after the initial purchase. This rapid depreciation led to significant losses for the new address, which had invested heavily at the peak price. The incident serves as a stark reminder of the volatility and unpredictability inherent in the cryptocurrency market.
The new address's decision to liquidate its entire DORAE holdings following the flash crash further compounded its losses. By selling at an average price of $0.0868 per unit, the address incurred a loss of nearly 96% on its initial investment. This incident underscores the high-risk nature of cryptocurrency investments, particularly for those who buy in at peak prices.
