Down about 13,900 U, with a return of -493%—all because of a coin that “looked like it should’ve topped out ages ago.”
The coin in question is $Q . Twelve days ago, it was hovering around 0.021. By noon today, it had hit a high of 0.163—up roughly 7.5x.
The most painful move came late on the night of the 17th. Someone opened a 5x short at 0.0552, when the coin was already up one and a half times from the start of the month. Then, around midnight, a huge green candle sent it straight to 0.135. The position was liquidated at around 0.1095, resulting in a loss of about 13,900 U. Another trader opened a 4x short at 0.0869, hoping to make just $100 on a quick trade. Instead, they cut their losses and exited around 0.118, ending up down 4,325 U.
The longs didn’t fare much better. Yesterday between 5 and 7 p.m., the coin plunged from 0.136 to 0.087, shedding more than 30% in two hours. Longs that chased the rally would have had a hard time holding on. But then came another surge at 10 a.m. today: in just two hours, it bounced from 0.106 to 0.163, setting a new high for this run.
Even now, nearly 70% of accounts on the market are still holding short positions, and 24-hour trading volume is around 900 million U. The more people think, “Surely this has to be the top,” the more it seems to target those short positions.
The cruelest thing about a meme coin isn’t that it goes up—it’s that you never know which way it’ll strike next. Have you ever been taught a lesson by a coin like this? Share your story in the comments.
The coin in question is $Q . Twelve days ago, it was hovering around 0.021. By noon today, it had hit a high of 0.163—up roughly 7.5x.
The most painful move came late on the night of the 17th. Someone opened a 5x short at 0.0552, when the coin was already up one and a half times from the start of the month. Then, around midnight, a huge green candle sent it straight to 0.135. The position was liquidated at around 0.1095, resulting in a loss of about 13,900 U. Another trader opened a 4x short at 0.0869, hoping to make just $100 on a quick trade. Instead, they cut their losses and exited around 0.118, ending up down 4,325 U.
The longs didn’t fare much better. Yesterday between 5 and 7 p.m., the coin plunged from 0.136 to 0.087, shedding more than 30% in two hours. Longs that chased the rally would have had a hard time holding on. But then came another surge at 10 a.m. today: in just two hours, it bounced from 0.106 to 0.163, setting a new high for this run.
Even now, nearly 70% of accounts on the market are still holding short positions, and 24-hour trading volume is around 900 million U. The more people think, “Surely this has to be the top,” the more it seems to target those short positions.
The cruelest thing about a meme coin isn’t that it goes up—it’s that you never know which way it’ll strike next. Have you ever been taught a lesson by a coin like this? Share your story in the comments.