A cryptocurrency investor incurred significant losses by constantly buying high and selling low in a short period of time.
According to data provided by on-chain analysis platform Lookonchain, a crypto investor suffered major losses due to poor trading decisions.
The data revealed that the investor made a total of 2 buy and 2 sell transactions for the meme coin SMOLE. Both of these buys were made at local peaks, while both sell transactions were executed at lower prices. As a result of these misguided moves, the investor lost $70,000 in a short timeframe.
Realizing that he was unsuccessful in trading, the investor learned an expensive lesson and used his remaining funds to purchase another popular meme coin, SLERF, valued at $484,000.
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