'Dogecoin Millionaire' Consoles Trader Who Lost $1M On PEPE Long: 'I Lost $3M Before Bro And I'm Still Here'
Portfolio Pulse from Khyathi Dalal
Crypto Nerd, a cryptocurrency trader, lost $1M after going 3x long on Pepe (PEPE) due to a significant altcoin correction. The Coinbase announcement of listing Pepe futures had made him bullish. Despite ignoring sell signals, his position was liquidated. The crypto community, including SlumDOGE Millionaire, shared their own loss experiences, offering support and emphasizing the importance of cautious trading strategies.
April 17, 2024 | 4:19 pm
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Crypto Nerd's significant loss on PEPE after a bullish bet went wrong due to an altcoin correction, highlights the volatility and risk associated with trading PEPE.
The liquidation of a large position in PEPE following a bullish bet based on Coinbase's announcement to list Pepe futures underscores the asset's susceptibility to sharp price movements and market sentiment. This event may lead to increased caution among traders, potentially affecting PEPE's short-term price stability.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100