Can You Make Millions In Minutes? This Trader Found Out The Hard Way
Portfolio Pulse from Murtuza Merchant
A trader lost $138,000 in 35 minutes attempting to 'snipe' a newly launched coin, PUNDU, using Solana (SOL) tokens withdrawn from Binance. The strategy backfired due to 'sniper selling', leading to a rapid price decline and a significant loss.
March 27, 2024 | 1:15 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
A trader lost 721 SOL ($138,000) in a failed attempt to profit from a newly launched coin, PUNDU, leading to a significant financial loss.
The news highlights the risks associated with speculative trading strategies like 'sniping' in the volatile crypto market. This could lead to increased caution among SOL investors, potentially affecting its short-term price negatively due to perceived risks.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100