According to Lookonchain, a trader lost $93,000 in just one hour after investing 1,046 SOL ($149,200) into the Solana-based meme coin $LLJEFFY following a week of inactivity. Shortly after the large buy-in, news of Jeffy Yu’s fake death surfaced, causing $LLJEFFY’s price to crash. The trader panicked and sold all holdings for only 394 SOL ($56,200), realizing a significant loss. This incident highlights the extreme volatility and risk linked to meme coins on the Solana blockchain, especially when trading volume reacts sharply to social media rumors (source: Lookonchain via Twitter). Crypto traders should exercise caution with low-liquidity tokens and monitor social sentiment closely for risk management.

According to Lookonchain, a trader suffered a $93,000 loss within one hour after purchasing 1,046 SOL (worth $149,200) of $LLJEFFY. The price of $LLJEFFY crashed sharply following the news of Jeffy Yu's fake death, prompting the trader to panic sell for just 394 SOL ($56,200). This event highlights the extreme volatility and risk associated with meme coins on the Solana blockchain, emphasizing the need for traders to manage risk during rapid market-moving news. The incident serves as a warning for crypto traders to employ stop-loss strategies and remain vigilant about news events that can trigger large price swings. (Source: Lookonchain, Twitter, May 6, 2025)