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<p>The post <a href="https://coinpedia.org/news/millionaire-trader-shocking-downfall-celebrity-tokens-gone-wrong/">Millionaire Trader Shocking Downfall, Celebrity Jenner Tokens Gone Wrong!</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In a dramatic twist of fortunes, a trader who once turned $3,762 into a whopping $3.7 million within five days faced crushing losses with the celebrity token Jenner. LookonChain, a prominent blockchain analytics platform reveals the ups and downs of crypto trading, highlighting how quickly fortunes can change. </p> 
<p>While some <a href="https://coinpedia.org/news/trader-made-42m-profit-in-one-year-how-meme-coins-pepe-ondo-fueled-his-fortune/" target="_blank" rel="noreferrer noopener">traders enjoy big profits</a>, others suffer steep losses, showing the risky nature of the market.</p> 
<h2 class="wp-block-heading" id="h-trader-profit-turned-into-loss">Trader Profit Turned Into Loss</h2> 
<p>According to the LookonChain tweet, a trader who had previously made $3.7 million in just five days trading the BOME tokens faced significant losses while trading the celebrity token JENNER.&nbsp;</p> 
<p>Initially investing 2,620 SOL coins to purchase BOME tokens, the trader sold it for 21,159 SOL, resulting in a profit of 18,539 SOL worth approximately ($3.7 Million) within five days.</p> 
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   <p lang="en" dir="ltr">Many traders lost money by trading the celebrity token <a href="https://twitter.com/search?q=%24jenner&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$jenner</a> on <a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw">#Solana</a>, even the trader who previously made $3.7M in 5 days on <a href="https://twitter.com/search?q=%24BOME&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BOME</a>.<br><br>This trader spent 2,620 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> to buy <a href="https://twitter.com/search?q=%24BOME&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BOME</a> and sold it for 21,159 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>, making 18,539 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>($3.7M) on <a href="https://twitter.com/search?q=%24BOME&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BOME</a> in 5 days.<br><br>Then he spent 1,208 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>… <a href="https://t.co/qzytwOOhAo">pic.twitter.com/qzytwOOhAo</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1796060142884274407?ref_src=twsrc%5Etfw">May 30, 2024</a>
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<p>However, the trader’s fortunes took a downturn when the trader decided to invest 1,208 SOL in $Jenner. Despite their previous success, the trader ended up selling $Jenner for only 423 $SOL, incurring a loss of 785 SOL which was worth approximately around ($133.4k) within just one day.&nbsp;</p> 
<p>While some traders may experience significant losses, others face substantial gains, particularly those with celebrity endorsements or hype-driven movements.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-trader-turned-1-eth-into-89-eth">Trader Turned 1 ETH Into 89 ETH</h2> 
<p>According to insights shared by LookonChain, the trader’s strategy involved leveraging the popularity of celebrity tokens, particularly Jenner, on the Ethereum blockchain.&nbsp;</p> 
<p>With just 1 Ethereum (valued at approximately $3,762), the trader acquired a significant portion of Jenner tokens, totaling 429.28 million tokens, which accounted for approximately 43% of the total token supply.</p> 
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   <p lang="en" dir="ltr">This guy made $488K in less than 5 hours by trading celebrity tokens <a href="https://twitter.com/search?q=%24Jenner&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Jenner</a>, a gain of 130x!<br><br>He spent 1 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($3,762) to snip 429.28M <a href="https://twitter.com/search?q=%24Jenner&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Jenner</a>(43% of the total supply) on <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> and sold 393M <a href="https://twitter.com/search?q=%24Jenner&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Jenner</a> for 89 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($338K).<br><br>He currently has 36.3M <a href="https://twitter.com/search?q=%24Jenner&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Jenner</a>($150K) left.… <a href="https://t.co/7hTVKSjUtB">pic.twitter.com/7hTVKSjUtB</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1796053769819701717?ref_src=twsrc%5Etfw">May 30, 2024</a>
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<p>Following the acquisition, the trader swiftly executed a strategic sell-off, offloading 393 million Jenner tokens for a substantial profit of 89 Ethereum, equivalent to $338,000 at the time of sale. Despite the rapid turnover, the trader still holds a 36.3 million Jenner token, currently valued at approximately $150,000.</p> 
<p>This success story shows that there are <a href="https://coinpedia.org/news/renowned-crypto-researcher-identified-top-altcoins-with-the-potential-for-10x-to-100x-returns/" target="_blank" rel="noreferrer noopener">great opportunities for profit</a> in the cryptocurrency market. It encourages traders and investors to look for new trends and chances to make significant gains.</p> 
<p>Also Check Out : <a href="https://coinpedia.org/price-analysis/is-this-ethereum-eth-price-final-correction-before-achieving-4k-mark/">Is This Ethereum (ETH) Price Final Correction Before Achieving $4K Mark?</a></p>

Millionaire Trader Shocking Downfall, Celebrity Jenner Tokens Gone Wrong!

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