According to Lookonchain's data, an unfortunate trader experienced a significant loss of 721 $SOL, equivalent to a staggering $138,000, in a mere 35 minutes after jumping into trading $PUNDU as soon as it launched.
The sequence of events is quite telling:
The trader initially withdrew 1,535 $SOL from Binance, presumably in preparation for the $PUNDU trading frenzy. With the funds in hand, they eagerly dove into the action, purchasing $PUNDU tokens worth 1,485 $SOL.
However, the excitement quickly turned sour as the price of $PUNDU nosedived due to sniper selling tactics employed by other traders. In the blink of an eye, the trader found themselves in a precarious situation, forced to sell off all their $PUNDU holdings.
The outcome was nothing short of devastating – the trader managed to recoup only 764 $SOL the sale, leaving them with a substantial loss compared to their initial investment.
This unfortunate incident serves as a stark reminder of the inherent risks associated with volatile and speculative markets like cryptocurrency trading. It underscores the importance of conducting thorough research, exercising caution, and employing risk management strategies to mitigate potential losses.
