SOL - Can You Make Millions In Minutes? This Trader Found Out The Hard Way | Benzinga
The dream of turning a small investment into a fortune is a powerful lure in the crypto industry.
But for one trader, that dream turned into a nightmare in a mere 35 minutes as he incurred a staggering loss of $138,000 trying to “snipe” a newly launched coin.
Sniping Gone Wrong
“Sniping” refers to the practice of buying a cryptocurrency immediately after it starts trading on an exchange, hoping to capitalize on a quick price surge.
However, this strategy can be extremely risky, as demonstrated by the unfortunate trader. See below.
If you don't know how to snipe a coin, buying immediately after it opens trading is very dangerous!