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Heavy Bagholder Trader Hits Stop-Loss, Experiences Over 60% Drawdown
BlockBeats News, January 15th, according to GMGN monitoring, a trader started continuous buying after the market cap of the Meme coin "I'm Coming" exceeded 39 million USD, spending a total of 99,700 USD to build a position. The trader sold in batches to stop loss after the token's market cap fell below 17 million USD, selling back and redeeming 26,200 USD, still holding "I'm Coming" worth 11,000 USD, currently experiencing a loss of 62.25%.
Previously, the trader entered at the high point for the Meme coins "Cultivation," "Financial Freedom," and "meme rush," losing 63,800 USD, 60,500 USD, and 54,500 USD respectively.
BlockBeats Note: Meme coins are highly volatile, relying heavily on market sentiment and concept hype, without actual value or use case. Investors should be aware of the risks.
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