While many investors have made money in Solana (SOL) based meme coins, a significant number of them are incurring losses.
In a Twitter post on March 17th, on-chain analytics account Lookonchain highlighted the disappointment of a trader who went hunting for meme coins in Solana.
Lookonchain pointed out that not everyone can make money in meme coin trading on Solana, and mentioned a trader’s 11 trades, all ending in losses.
The trader transferred amounts ranging from 10 to 1,150 SOL to meme coins named NAP, LIKE, SORRY, BUME, BOPE, BOMO, BIBI, IQ50, USUG, SAM, and JOHN, resulting in a total loss of 754 SOL valued at $154,000.
Among these trades, the trader suffered the most significant loss in a crypto named SNAP (NAP), and the least in a meme coin called DogWifHat Twin (SAM).
Lookonchain noted that the trader exhibited extreme FOMO and always bought high and sold low.
