blockchainreporter.net
In the volatile world of cryptocurrency trading, the celebrity token $jenner has been at the center of dramatic financial outcomes for traders. Notably, a trader who previously earned a massive $3.7 million from trading $BOME on the Solana network faced a stark reversal with $jenner.
After investing 2,620 $SOL to purchase $BOME and selling it for 21,159 $SOL, the trader encountered a significant loss with $jenner. By spending 1,208 $SOL on $jenner and selling for only 423 $SOL, the trader incurred a loss of 785 $SOL, approximately $133.4K, within a single day.
Many traders lost money by trading the celebrity token $jenner on #Solana, even the trader who previously made $3.7M in 5 days on $BOME.
— Lookonchain (@lookonchain) May 30, 2024
This trader spent 2,620 $SOL to buy $BOME and sold it for 21,159 $SOL, making 18,539 $SOL($3.7M) on $BOME in 5 days.
Then he spent 1,208 $SOL… pic.twitter.com/qzytwOOhAo
A Tale of Quick Profits
Conversely, another trader experienced a rapid windfall by leveraging $Jenner on the Ethereum platform. This individual invested 1 $ETH, equivalent to $3,762, to acquire a substantial 429.28 million $Jenner tokens, representing 43% of the token’s total supply. The swift sale of 393 million $Jenner tokens for 89 $ETH, or around $338,000, resulted in a 130x gain, totaling nearly $488,000 in less than five hours. The trader still holds 36.3 million $Jenner tokens, valued at about $150,000.
This guy made $488K in less than 5 hours by trading celebrity tokens $Jenner, a gain of 130x!
— Lookonchain (@lookonchain) May 30, 2024
He spent 1 $ETH($3,762) to snip 429.28M $Jenner(43% of the total supply) on #Ethereum and sold 393M $Jenner for 89 $ETH($338K).
He currently has 36.3M $Jenner($150K) left.… pic.twitter.com/7hTVKSjUtB
These contrasting outcomes highlight the unpredictable nature of trading celebrity tokens, characterized by rapid gains and equally swift losses. The market for such tokens remains highly speculative and susceptible to extreme volatility, often influenced by the broader dynamics of the cryptocurrency markets and sentiment-driven trading.