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.
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 lookonchain.
$TURBO
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.
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.
$BEN
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.
$PSYOP
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.
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.
$BILLY
@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).
The multiple misses
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.
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.
