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<p>In the volatile world of crypto trading, making the right decision at the right time can often mean the difference between fortune and financial ruin.</p>
<p>This was the harsh reality that faced trader @sighduck during the memecoin, as several unfortunate decisions led to substantial losses. Even more painfully, some of the tokens @sighduck hastily sold skyrocketed in value shortly after their sale, according to <a href="https://twitter.com/lookonchain/status/1662008471376756736" rel="noopener noreferrer nofollow" target="_blank">lookonchain</a>.</p>
<h2 id="turbo">$TURBO</h2>
<p>The first token @sighduck invested in was $TURBO. He bought at $0.0004915 per token on May 4, only to sell all his $TURBO holdings at $0.0002525 due to a drop in price the next day.</p>
<p><img src="https://crypto.ro/en/wp-content/uploads/2023/05/ezgif.com-webp-to-png-16.png" alt="ezgif.com webp to png 16" width="1370" height="1154" title="How one trader lost approximately 78 ETH ($147K) during the memecoin season 4"></p>
<p>This hasty decision resulted in a loss of 24 ETH, approximately $46,313. More painful than the financial loss, however, was the missed opportunity. Shortly after @sighduck sold his holdings, the price of $TURBO skyrocketed, multiplying tenfold in value.</p>
<h2 id="ben">$BEN</h2>
<p>The $BEN token was another source of regret for @sighduck. Despite a gut feeling that $BEN would rise 85x in 3 days, he sold his holdings one day after purchase, resulting in a loss of 3.94 ETH ($7,272). True to his prediction, $BEN rose in value substantially in the days following the sale, once again highlighting a missed opportunity.</p>
<p><img src="https://crypto.ro/en/wp-content/uploads/2023/05/ezgif.com-webp-to-png-17.png" alt="ezgif.com webp to png 17" width="1414" height="1158" title="How one trader lost approximately 78 ETH ($147K) during the memecoin season 5"></p>
<h2 id="psyop">$PSYOP</h2>
<p>When @sighduck transferred 5 ETH to ben.eth, he received 8.9M $PSYOP. Feeling potentially scammed, he promptly sold all his $PSYOP at the same price, neither gaining nor losing money.</p>
<p>The story did not end here, however. In a recurring theme of unfortunate trading decisions, $PSYOP multiplied fivefold in value after the sale. This event led to a second interaction with $PSYOP where @sighduck spent 60 ETH to buy more, but sold after only 10 minutes, fearing another potential scam.</p>
<h2 id="billy">$BILLY</h2>
<p>@sighduck bought $BILLY very early on, and to his delight, the value of the token rose 10x thereafter. However, instead of selling and taking profits, he continued to buy $BILLY. Ultimately, the value of $BILLY plummeted, forcing @sighduck to sell all his holdings, resulting in a loss of 2.94 ETH ($7,661).</p>
<p><img src="https://crypto.ro/en/wp-content/uploads/2023/05/ezgif.com-webp-to-png.jpg" alt="ezgif.com webp to png" width="1436" height="1212" title="How one trader lost approximately 78 ETH ($147K) during the memecoin season 6"></p>
<h2 id="the-multiple-misses">The multiple misses</h2>
<p>In addition to the substantial losses incurred from $TURBO, $BEN, $PSYOP, and $BILLY, @sighduck also faced financial hits from several other tokens. He lost 3.45 ETH ($6,371) on $midwit, 10 ETH ($18,109) on $AOL, another 3.45 ETH ($6,371) on $FEELS, and a further 0.27 ETH ($515) on $KIBSHI.</p>
<p>Throughout the #MEME season, @sighduck’s trading decisions led to a total loss of approximately 78 ETH ($147K). Almost none of the #MEME coins he traded were profitable. The tale of @sighduck serves as a valuable lesson in the volatile world of NFT trading, underscoring the importance of patience, informed decision-making, and risk management.</p>

How one trader lost approximately 78 ETH ($147K) during the memecoin season

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