Token

2024

when

<p>A cryptocurrency sniper recently suffered a significant financial loss after investing 15,000 <a href="https://blockchainreporter.net/price-prediction/solana-price-prediction/">SOL</a> ($1.9 million) to snipe 177.9 million $WATER tokens. Despite the hefty investment, the sniper managed to sell the tokens for only 9,306 SOL ($1.2 million), resulting in a loss of 5,694 SOL ($716,400) within less than 10 minutes.</p> 
<p>The incident sparked cautionary advice within the crypto community, emphasizing the risks of sniping. Sniping involves purchasing tokens when they are launched to sell them quickly for a profit. Not all snipers can make money, and unfamiliarity with the practice can lead to substantial financial losses.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
   <p lang="en" dir="ltr">Not all snipers can make money!<br><br>If you are not familiar with sniping, please do it with caution.<br><br>This sniper spent 15K <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$SOL</a>($1.9M) to snipe 177.9M <a href="https://twitter.com/search?q=%24WATER&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$WATER</a>, which is less than what other snipers bought.<br><br>So he got only 9,306 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$SOL</a>($1.2M) back after selling all and lost 5,694… <a href="https://t.co/v1uwfti8hM" target="_blank">pic.twitter.com/v1uwfti8hM</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1805277579282423989?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 24, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="allegations-of-insider-dumping-by-water-devs">Allegations of Insider Dumping by $WATER Devs</h2> 
<p>Adding fuel to the fire, allegations have surfaced accusing the $WATER development team of unethical practices. According to a tweet, the developers have sent a significant supply of $WATER tokens to their wallets and dumped them on the market. One particular wallet, allegedly controlled by the development team, was reportedly sent 44 million $WATER tokens and currently holds 35 million.</p> 
<p>Critics argue that such actions exemplify why presales can be detrimental to investors. They allow the development team and insiders to secure and sell tokens before the broader community has the opportunity to participate. This practice undermines trust and raises questions about the integrity of the $WATER project and its developers.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24WATER&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$WATER</a> devs are sending supply to themselves and then dumping it. This wallet, along with many others were sent 44 million <a href="https://twitter.com/search?q=%24WATER&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$WATER</a> tokens. The wallet currently contains 35 million tokens. This is why presales are a bad idea. The development team and insiders get their tokens and… <a href="https://t.co/ErgPCuSVNV" target="_blank">pic.twitter.com/ErgPCuSVNV</a></p>— Crypto Rug Muncher (@CryptoRugMunch) <a href="https://twitter.com/CryptoRugMunch/status/1805291744537493687?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 24, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The crypto community is urged to exercise caution and conduct thorough due diligence before investing, particularly in projects with presale structures that may favor insiders over regular investors. The recent events surrounding $WATER serve as a stark reminder of the potential pitfalls in the volatile world of cryptocurrency.</p>

Sniper Loses $716.4K in $SOL on $WATER Token

Table of Contents

BlockchainReporter

Muita 25. kesäk. 2024 julkaistuja artikkeleja

Countdown to Sealana Launch Begins As $5M Meme Coin Presale Concludes Today

Dogwifhat Trading Volumes Comes Crashing Down, ETH Remains In The Red, Investors Look To Raboo To...

Bitcoin Experts Analyze Market Trends and Future Movements

The Cryptos with the Highest Potential for 2024

The Best Altcoins for Phenomenal Growth

Bitcoin Shows Promise as RSI Dips Into Oversold Territory

Join our free newsletter for daily crypto updates!