While interest in Solana-based mem tokens continues to grow day by day, the latest mem token craze ended in disappointment.
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Although the mem token named SLERF has been launched, investors participating in the pre-sale cannot currently purchase SLERF tokens.
While the price increased due to the interest in SLERF before this news, there was a big decrease after the news.
This decline caused an investor to lose $775,000.
Lookonchain said in its post that an investor who was caught up in SLERF FOMO bought 790,236 SLERF at the highest price for 5,004 SOL.
After the investor's first purchase, the price began to fall. The investor, who bought SLERF again during this decline, spent another SOL 2,500 ($517 thousand) to buy 650,330 SLERF at $0.8.
However, when the price continued to fall, the investor panicked and sold all his SLERFs in panic. As a result, the investor who was the victim of SLERF lost 775 thousand dollars in just one hour.
“FOMO Buying is very dangerous!
This trader lost 3,731 SOL ($775k) in just 1 hour trading SLERF!
This investor spent 5,004 SOL to purchase 790,236 SLERF at $1.32 (highest price point).
Afterwards, the SLERF price started to fall. Meanwhile, the investor spent another SOL 2,500 ($517 thousand) to buy 650,330 SLERF at $0.8.
Unfortunately, after the investor's purchase, the SLERF price dropped again.
Eventually, the investor panicked and sold all of the SLERFs. At the end of these transactions, he lost 3,731 SOL (775 thousand dollars) and was left with only 3,774 SOL (784 thousand dollars-dollar).”
*This is not investment advice.