Here’s How a Trader Missed a $17.5M Gain After Selling $PNUT At a Loss

A memecoin investor missed a significant profit opportunity by hastily selling 19.4 million PNUT tokens, just before the token’s value doubled.

The price of $Pnut surged by 100%!

The 19.4M $Pnut this guy sold at a loss of $669 is now worth over $17.5M!

He spent 8 $SOL($1,366) to buy 19.4M $Pnut and sold for 4.08 $SOL ($697).

He must be regretting selling too early, especially with a $669 loss on $Pnut.… pic.twitter.com/3NKC0TMBZL

— Lookonchain (@lookonchain) November 13, 2024

Blockchain analytics platform Lookonchain revealed that the investor bought these tokens for $1,366 (8 SOL) and sold them for roughly $697 (4.08 SOL). The decision not only resulted in a $669 loss but also cost the trader a chance to benefit from the token’s subsequent price surge, as the value of the sold tokens later skyrocketed to $17.5 million.

Trader Fails to Take Profits

However, in a separate case, another trader missed a substantial profit opportunity by failing to take profits after investing in Tron Bull (BULL) surged by 833,233% in just three days. 

The trader invested $780 in BULL on August 22 through the Tron-based platform SunPump. Later, they added another $390 after BULL was listed on SunSwap, bringing the total investment to $1,170. According to CoinTab, this amount surged to a $10 million valuation within three days, but by the time the trader tried to cash out, the profit had diminished to $3.99 million.

Over 12,000x in Profit

While some investors incurred losses from selling too early or failing to take profits quickly, others have reaped substantial gains. On-chain data shows that one trader invested just $17 (0.0983 SOL) to purchase 2.46 million PNUT tokens, resulting in a return of over 12,000x. 

Reports indicated that on November 2, the investor began liquidating their PNUT holdings, selling 2.23 million tokens for around $196,000 (1,162 SOL). By November 3, the total profits had exceeded 12,000 times the original investment.

In a related development, a memecoin trader has reportedly gained over $3 million in unrealized profit within an hour by closely watching Binance’s latest cryptocurrency listings. Blockchain data revealed that immediately after Binance announced the listing of ACT tokens, the trader used just $318,000 (equivalent to 1,558 SOL) to purchase 10.9 million ACT, now valued at around $3.4 million.