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Cryptocurrency News Articles
Impatient investor loses out on millions in panic sell blunder
Sep 29, 2024 at 02:00 am
What an unlucky guy! The 21M $MOODENG he sold for $297 is now worth $6.3M! #MOODENG
An unlucky investor panic-sold 21M $MOODENG, missing out on a chance to cash out $6.3M, according to data from Solscan.io.
The investor discovered the memecoin an hour after it started trading and spent 26 SOL (~$3,537) to buy 21M $MOODENG, which had a $210K market cap at the time.
However, the investor panicked when MOODENG prices initially dipped and sold his bag for $297 (~2.19 SOL), making a 91.6% loss.
Solscan.io’s data showed that the investor started trading on September 10 by swapping 648.02 $RAY for 7.29 $WSOL and 1.67M $ARMY for 8.13 WSOL, bringing the total WSOL to 15.42. Data revealed that the trader carried out six separate transactions of 4 SOL each to acquire 2.5M, 2.4M, 2.7M, 2.9M, 3.5M, and 4.4M $MOODENG respectively. The wallet: 7eCsrP…idAoBz then swapped 2 SOL for 2.4M $MOODENG, bringing the total WSOL spent to 26 for ~21M tokens.
Two hours later, the trader panicked and sold all 21.05M MOODENG for 2.19 WSOL after $MOODENG’s price started dipping.
Solscan.io showed that the investor’s account still held 137,199.27 $JONAH ($111.47), 260 $WAFFLES ($3.41), 200 $REXHAT ($0.18), 1M $PFIRE ($ 0.06), and 1.6M $aSPHYNX.
Meanwhile, savvy investors continue to mint millions with $MOODENG.
The memecoin, inspired by a female pigmy hippo, Moo Deng, surged nearly 100% on September 27, according to Tradingview’s data. Entering the market at $0.085, $MOODENG went on to gain 285.8% to reach $0.327991 in 17 days.
Data from Tradingview showed that a trader, believed to be an insider, turned $800 into $7.5M on September 27 with $MOODENG. The tokens were valued at $3.5M a day before (Sep. 26) when Arkham Intel noticed the trader’s huge gains.
Another trader also flipped $800 (~6 SOL) worth of $MOODENG into over $400K. The trader, with wallet Db3PqV…Vvf4Kuk49, acquired the token as it left the pump.fun, but the investment multiplied 500x after only a week.
Earlier today, Lookonchain disclosed that a whale spent 10,156 $SOL worth $1.5M to buy 6 M MOODENG at $0.27.
According to Solscan.io’s data, the top 10 MOODENG holders now have tokens valued at over $40M, with the top account holding tokens valued at over $5 million.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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