Here's a story of caution: one trader's loss of $700k in just an hour due to a meme coin. Let's break it down:
- They purchased 790,236 SLERF coins at the peak price of $1.32, investing 5,004 SOL.
- As SLERF's value dropped sharply, they added 650,330 more SLERF at $0.8 each, totaling 2,500 SOL (around $517k).
- With SLERF's value still declining, they had to sell, resulting in a net loss of 3,731 SOL (-$775k).
Now, their wallet holds only 10,000 units of an unknown token.
The lesson? Avoid making impulsive decisions driven by fear of missing out and trade wisely.
