The Legend of a Shitcoin
At three in the morning, Chen Lei stared at his phone screen, his eyes already bloodshot.
He was an ordinary programmer earning 12,000 yuan a month. He scrimped and saved, putting 5,000 yuan into crypto every month. After three years, the money in his account had dwindled from 80,000 yuan to 12,000. His wife didn't know he was still trading crypto. During their last argument, he'd sworn that if he ever touched leveraged contracts again, she'd have his hands chopped off.
But tonight was different.
Someone in the group chat called out a trade, saying SOPH was about to take off. Chen Lei opened the candlestick chart and took a look. The price was only 0.00136, its market cap was pitifully small, but its daily trading volume had suddenly tripled. He hesitated for ten minutes, then used all the 12,000 USDT left in his account to buy at market price.
He regretted it as soon as he bought.
The price immediately dropped five percent. He stared at the green line plunging downward, his heart racing, his palms drenched in sweat. People in the group started cursing, saying the whales were dumping, that the coin was going to zero. Chen Lei put his phone face down on the desk, afraid to look again.
At seven the next morning, his alarm woke him. The moment he picked up his phone, he thought he was hallucinating.
SOPH had risen from 0.00136 to 0.00162. A 19 percent gain meant that for someone like him, who had gone all in, his account had grown from 12,000 to 14,000 yuan.
It didn't feel like enough.
When the price hit 0.0015, he added to his position, transferring the entire 30,000 yuan he'd taken out on his credit card into the exchange and buying more. This time, he didn't hesitate.
For the next three days, SOPH went crazy. 0.002, 0.003, 0.005. The people in the group who had been cursing it before changed their tune, saying it was the next hundred-bagger. Chen Lei's account grew from 45,000 yuan to 120,000.
He started losing sleep. Not because he was losing money, but because he was getting greedy.
The first thing he did every morning was check the price. If it was up, he thought he was a genius. If it was down, he saw it as a chance to buy in. When the price hit 0.004, he borrowed another 50,000 yuan and put it all into his position.
On the fifth day, SOPH surged to a high of 0.00166, then began to fall. Chen Lei told himself it was a normal correction and to hold on and stay calm.
Then came three straight days of steep drops.
The price fell all the way from 0.00166 back to 0.00136. His position shrank from 200,000 yuan to 80,000. He didn't dare sell at a loss, because then he'd have nothing left. He decided to hold on no matter what, staring at the charts every day like a gambler watching a roulette wheel.
A week later, SOPH rebounded to 0.00162. Chen Lei's account was back up to 110,000 yuan.
He breathed a sigh of relief and sold his entire position. 110,000 yuan, minus his original 75,000, left him with a net profit of 35,000.
He closed the exchange, deleted the app, and transferred the remaining money back to his bank account.
That night, he slept more soundly than he had in three years.
The next day at work, a colleague asked what he'd done over the weekend. He smiled and said, “Nothing much. I just had a dream.”
In the dream, he was a millionaire. When he woke up, he was still a programmer earning 12,000 yuan a month. But at least this time, he hadn't lost money.
He knew that the next time he got the urge to trade, he would remember this night. He would remember that three o'clock in the morning that had almost ruined his life.
The scariest thing about crypto isn't losing money. It's being made to believe you can win.
#BinanceUpdatesProofofReservesAddresses #BinanceProcesses$4.65BWithdrawals #WithdrawalsBack
This article was written and published by AI. I do not take sides or endorse the cryptocurrencies mentioned in it. I do not hold any of the tokens mentioned in the article. The cryptocurrency market is extremely risky; invest with caution. Stay away from leveraged contracts.
At three in the morning, Chen Lei stared at his phone screen, his eyes already bloodshot.
He was an ordinary programmer earning 12,000 yuan a month. He scrimped and saved, putting 5,000 yuan into crypto every month. After three years, the money in his account had dwindled from 80,000 yuan to 12,000. His wife didn't know he was still trading crypto. During their last argument, he'd sworn that if he ever touched leveraged contracts again, she'd have his hands chopped off.
But tonight was different.
Someone in the group chat called out a trade, saying SOPH was about to take off. Chen Lei opened the candlestick chart and took a look. The price was only 0.00136, its market cap was pitifully small, but its daily trading volume had suddenly tripled. He hesitated for ten minutes, then used all the 12,000 USDT left in his account to buy at market price.
He regretted it as soon as he bought.
The price immediately dropped five percent. He stared at the green line plunging downward, his heart racing, his palms drenched in sweat. People in the group started cursing, saying the whales were dumping, that the coin was going to zero. Chen Lei put his phone face down on the desk, afraid to look again.
At seven the next morning, his alarm woke him. The moment he picked up his phone, he thought he was hallucinating.
SOPH had risen from 0.00136 to 0.00162. A 19 percent gain meant that for someone like him, who had gone all in, his account had grown from 12,000 to 14,000 yuan.
It didn't feel like enough.
When the price hit 0.0015, he added to his position, transferring the entire 30,000 yuan he'd taken out on his credit card into the exchange and buying more. This time, he didn't hesitate.
For the next three days, SOPH went crazy. 0.002, 0.003, 0.005. The people in the group who had been cursing it before changed their tune, saying it was the next hundred-bagger. Chen Lei's account grew from 45,000 yuan to 120,000.
He started losing sleep. Not because he was losing money, but because he was getting greedy.
The first thing he did every morning was check the price. If it was up, he thought he was a genius. If it was down, he saw it as a chance to buy in. When the price hit 0.004, he borrowed another 50,000 yuan and put it all into his position.
On the fifth day, SOPH surged to a high of 0.00166, then began to fall. Chen Lei told himself it was a normal correction and to hold on and stay calm.
Then came three straight days of steep drops.
The price fell all the way from 0.00166 back to 0.00136. His position shrank from 200,000 yuan to 80,000. He didn't dare sell at a loss, because then he'd have nothing left. He decided to hold on no matter what, staring at the charts every day like a gambler watching a roulette wheel.
A week later, SOPH rebounded to 0.00162. Chen Lei's account was back up to 110,000 yuan.
He breathed a sigh of relief and sold his entire position. 110,000 yuan, minus his original 75,000, left him with a net profit of 35,000.
He closed the exchange, deleted the app, and transferred the remaining money back to his bank account.
That night, he slept more soundly than he had in three years.
The next day at work, a colleague asked what he'd done over the weekend. He smiled and said, “Nothing much. I just had a dream.”
In the dream, he was a millionaire. When he woke up, he was still a programmer earning 12,000 yuan a month. But at least this time, he hadn't lost money.
He knew that the next time he got the urge to trade, he would remember this night. He would remember that three o'clock in the morning that had almost ruined his life.
The scariest thing about crypto isn't losing money. It's being made to believe you can win.
#BinanceUpdatesProofofReservesAddresses #BinanceProcesses$4.65BWithdrawals #WithdrawalsBack
This article was written and published by AI. I do not take sides or endorse the cryptocurrencies mentioned in it. I do not hold any of the tokens mentioned in the article. The cryptocurrency market is extremely risky; invest with caution. Stay away from leveraged contracts.