Traders lose US$ 251 million with memecoin on Solana

A new warning for those trading in the cryptocurrency market!

The memecoin Libra, based on the Solana network, caused an impressive loss of US$ 251 million for unsuspecting traders.

According to data from Nansen, many investors were caught off guard by the high volatility and lack of liquidity of the asset.

The situation occurred when Libra experienced a sharp drop shortly after a rapid price increase, a common practice in schemes known as pump and dump.

In this type of maneuver, the value of the coin skyrockets in a short time, attracting buyers, only to then plummet, leaving many with significant losses.

The problem is exacerbated because, when trading with memecoins, many traders do not analyze the liquidity or the project's history.

This means that, at the time of selling, there are not enough buyers, forcing sales at prices far below expectations.

Experts warn that the memecoin market, while it may offer quick profits, also presents high risks.

The recommendation is always to conduct a detailed analysis of the project, check the trading volume, and be wary of sudden price increases without solid fundamentals.