The cryptocurrency market has an equal number of gainers and losers every day, as it provides equal gaining opportunities to all its users and investors. Some of the users make millions from their capital, and some just turn their capital into ashes and miss opportunities. During the bullish run in the market, the number of gainers increases, and in the bearish run, most of them lose, and vice versa. Introducing meme coins to the market raises new hope for the investors, as they believe either they can make it or break it.
Missed Opportunity: Selling Early Cost Investor $12M
In the middle of December 2023, a cryptocurrency investor bought a newly launched meme coin, DogWifHat (WIF) for $5000. At the time of purchase, the WIF coin was trading normally, and its price was $0.004 around four months ago. In just four months of trading, this meme coin deleted all its zeros and made a new high by touching $3.9 per token.
Source: CoinmarketCap
This price of a meme coin guaranteed investors a profit of millions of dollars in just four months, however, the cryptocurrency investor sold the token in the first rally, losing to become a millionaire, and did not taste the flavor of success.
In the first rally, the investor sold all his tokens for just $7000, making a profit of $2000 from his investment and counting it a move of genius.
GogWifHat coin struggled in the market of cryptocurrency and touched the $3 price, At this price of the token, a $5000 investment could have been turned into $12 million, but the early sale of the token made him lose the chance of becoming a millionaire.
“I put $5,000 into WIF (DogWifHat), sold for $7,000, thinking I was a genius. My bag would be worth $12 million right now. I lost over $100,000 trying find the next WIF. I am ruined,” some anonymous investor wrote on the CoinConfession X/Twitter.
