According to Lookonchain, the price of $LLJEFFY experienced extreme volatility after rumors of Jeffy Yu's fake death circulated, causing a rapid surge followed by a steep decline. This event led to significant losses for traders who engaged in FOMO buying, with one individual losing $93,000 within just one hour (source: Lookonchain, May 7, 2025). Such sudden price swings highlight the high-risk nature of meme coin trading and underscore the importance of risk management strategies for crypto market participants.

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)