The cryptocurrency market has just as many stories to tell about the gains and losses that investors experience every day. During the bear market, losses exceed gains and during the bull market the opposite is true. While some earn millions, others become poor in the same period. Each shoe fits the cryptocurrency market differently. However, meme coins have brought hope and luck to the cryptocurrency market as investors believe they can make or break it.
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Cryptocurrency: Investor regrets losing $12 million in Meme Coin
A cryptocurrency investor purchased the new meme coin DogWifHat (WIF) for $5,000 during its launch in mid-December 2023. WIF was trading at a nominal and affordable price of just $0.004 four months ago. However, the DogWifHat meme coin began to recover strongly this year, removing all of its zeros and surpassing the $3 mark.
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The rebound was perfect to generate millions of dollars for the investor in just four months. However, the cryptocurrency investor did not taste success and failed to become a millionaire when he sold the meme coin after its first rally.
Yes, right after the first rally, the cryptocurrency investor sold the WIF meme coin for $2,000 profit and cashed out $7,000. Although he considered it a "genius" move, what came next surprised him greatly.
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The DogWifHat meme coin rallied strongly and the same $5,000 investment could have been worth $12 million today. All of these profits could have been made in just four months of investing, but the investor sold early and didn't make $12 million.
โI put $5,000 into WIF (DogWifHat), and sold it for $7,000 thinking it was a genius. My bag would be worth 12 million dollars right now. I lost over $100,000 trying to find the next WIF. "I'm ruined." wrote the anonymous investor in the Confessions Twitter page.
