Lookonchain Analysis: Revealing The Number Of Losses In Meme Coin Trading
Key Points:
- Lookonchain analyzed 0xSisyphus’s 21 MEME coins trade, showing a total loss of 12.62 ETH ($24K) and a winning rate of only 43%.
- SmartMoney made 1,219 $ETH($2.2M) on $PEPE but investing in meme coins is not easy or risk-free.
Lookonchain analyzed the trader’s 21 MEME coins trade, losing 12 coins with a 43% win rate and a total loss of 12.62 ETH ($24K) + 2.2 $ETH ($4K) gas fees. Some traders lost 100 ETH ($190K) on LADYS.
Lookonchain, a blockchain analytics platform, analyzed the trading history of a meme coin trader known as 0xSisyphus. This trader traded 21 MEME coins in the past 30 days and lost money on 12 coins, with a winning rate of only 43% and a total loss of 12.62 ETH ($24K).
On top of that, he also spent 2.2 ETH ($4K) on gas fees. These numbers show that investing in meme coins is less lucrative than some think.
In another case, Lookonchain reported that a trader lost 100 ETH ($190K) on LADYS. This trader withdrew 174 ETH ($321K) from Gate.io and bought 2T LADYS at $0.0000001504. Unfortunately, he only sold for 73.5 ETH($130K) at a price of $0.00000006142. These losses are a stark reminder of the risks of investing in meme coins.
However, there are exceptions, and some traders have made significant profits from investing in meme coins. A trader, known as SmartMoney, made 1,219 ETH($2.2M) on PEPE. He then spent 1,173 ETH ($2.1M) to repurchase 1.33T PEPE at a buying price of $0.000001586. He bought 2.24T PEPE with 26 ETH($48K) at $0.00000002166 and sold for 1,245 ETH($2.24M) at $0.0000009985, with a gain of 48x. These gains are impressive but should not be taken as an indication that investing in meme coins is easy or risk-free.
Meme coins have been a hot topic in the crypto world, with many investors looking for the next big thing. However, investing in meme coins is not for the faint-hearted. The risks are high, and most people end up losing money on meme coins and spending a lot of money on gas fees.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
Coincu News
Author
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Lookonchain Analysis: Revealing The Number Of Losses In Meme Coin Trading
Key Points:
- Lookonchain analyzed 0xSisyphus’s 21 MEME coins trade, showing a total loss of 12.62 ETH ($24K) and a winning rate of only 43%.
- SmartMoney made 1,219 $ETH($2.2M) on $PEPE but investing in meme coins is not easy or risk-free.
Lookonchain analyzed the trader’s 21 MEME coins trade, losing 12 coins with a 43% win rate and a total loss of 12.62 ETH ($24K) + 2.2 $ETH ($4K) gas fees. Some traders lost 100 ETH ($190K) on LADYS.
Lookonchain, a blockchain analytics platform, analyzed the trading history of a meme coin trader known as 0xSisyphus. This trader traded 21 MEME coins in the past 30 days and lost money on 12 coins, with a winning rate of only 43% and a total loss of 12.62 ETH ($24K).
On top of that, he also spent 2.2 ETH ($4K) on gas fees. These numbers show that investing in meme coins is less lucrative than some think.
In another case, Lookonchain reported that a trader lost 100 ETH ($190K) on LADYS. This trader withdrew 174 ETH ($321K) from Gate.io and bought 2T LADYS at $0.0000001504. Unfortunately, he only sold for 73.5 ETH($130K) at a price of $0.00000006142. These losses are a stark reminder of the risks of investing in meme coins.
However, there are exceptions, and some traders have made significant profits from investing in meme coins. A trader, known as SmartMoney, made 1,219 ETH($2.2M) on PEPE. He then spent 1,173 ETH ($2.1M) to repurchase 1.33T PEPE at a buying price of $0.000001586. He bought 2.24T PEPE with 26 ETH($48K) at $0.00000002166 and sold for 1,245 ETH($2.24M) at $0.0000009985, with a gain of 48x. These gains are impressive but should not be taken as an indication that investing in meme coins is easy or risk-free.
Meme coins have been a hot topic in the crypto world, with many investors looking for the next big thing. However, investing in meme coins is not for the faint-hearted. The risks are high, and most people end up losing money on meme coins and spending a lot of money on gas fees.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
Coincu News
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