Sniper Whale Meme Coin Got Hit: Lost $1.48 Million!
On the Solana (SOL) network, a sniper lost approximately $1.48 million after making a wrong WATCHCOIN move.
Investors who engage in aggressive trading with the goal of high profits in a short time in the cryptocurrency market are referred to as "snipers." However, as seen in the recent incident, these trades do not always yield profits. According to data shared by the on-chain data analysis platform Lookonchain, an investor suffered a loss of 8,586 SOL (approximately $1.48 million) in a short period.
The details of the investor's trades are quite striking: The investor spent 17,800 SOL (approximately $3.09 million) to acquire a total of 47.83 million WATCHCOIN. The fee paid for this transaction was 669 SOL (approximately $116,000). However, shortly after, the investor sold all the WATCHCOINs for only 9,883 SOL (approximately $1.72 million), incurring significant losses.
The high volatility in recent cryptocurrency markets also brings risks for sniper investors. Price movements can occur very quickly, especially in newly launched low-volume tokens. Experts warn that investors engaging in such high-risk trades should be cautious, as sudden movements in the market can result in significant losses in a short time.
