PEPE FAIL

[Xgram.io]

🚨 A trader turned $1.2M → $6 in just 5 minutes.


Yep. That’s not a typo. Here's what happenend:
Bought $PEPE options.

Didn’t realize slippage was 99.5%.

Platform didn’t warn him.

Market crashed while he was adjusting.

⚠️ Lessons:
— Always double-check slippage
— Never YOLO during volatile events
— Use test trades before size

Even OGs make rookie mistakes.

[Odusko]

This entirely an error that have cost the trader a big lose, this is not the first time we are having such cases and alot of them have to do with newbies who may have not experienced such before and on rear occasions will you see experience trader making such mistakes that can cost him losses on the long run, crypto trading is a risks that only the knowledgeable fork's only can engage in cryptocurrency and earn income based on what can be offered.

[TastyChillySauce00]

Is this big slippage even possible? aren't most of DEX nowadays use slippage protection enforcing 0.5% in every swap or even lesser?

I think the trader is manually setting slippage at 100% so his tx got frontrun by MEV bots.
If you stick with low slippage, you will not lose your money like this. Also, MEV protection is a thing.

[Akbarkoe]

It is true what Odusko said that this is the Trader's fault not the coin, maybe you can change the title so that it is not misunderstood, and you should make this discussion in the trading discussion not in altcoin speculation because the main point is the trader's problem not a failure of the mem coin project.

It seems that the trader was in a hurry to take a position without looking at the entire information when he took the position so he lost money very quickly, taking 99.5% slippage is the same as giving charity to the trading platform.

Is this big slippage even possible? aren't most of DEX nowadays use slippage protection enforcing 0.5% in every swap or even lesser?

I think the trader is manually setting slippage at 100% so his tx got frontrun by MEV bots.
If you stick with low slippage, you will not lose your money like this. Also, MEV protection is a thing.

We don't know which exchange he used, we have to question it because it is very detrimental, unless he did it on purpose.

[Orpichukwu]

Even OGs make rookie mistakes.

Even OGs make mistakes, but in this case, this is not just a regular mistake; the exchange has a hand in this mistake too and should be questioned.

On a normal trade, if you try to adjust your slippage manually once you exceed 10% and try to go higher, the system will trigger a warning to notify you to cross-check and make sure you know what you are doing and it's not by mistake, but in this case, we are talking about 99% slippage. The trade should not have gone through in the first place because the fee is way higher than what will be credited to the buyer.

[Hedis]

That’s brutal, turning over a million into six bucks in five minutes must feel like a punch in the gut, It’s a brutal lesson that even veteran traders can trip up when they get too comfortable or too cocky, also slippage is one of those things people typically overlook until it bites hard. I think stories like this are vital though because they keep the rest of us grounded and always better to be cautious than to learn the hard way like the guy did.

[Webetcoins]

That’s brutal, turning over a million into six bucks in five minutes must feel like a punch in the gut, It’s a brutal lesson that even veteran traders can trip up when they get too comfortable or too cocky, also slippage is one of those things people typically overlook until it bites hard. I think stories like this are vital though because they keep the rest of us grounded and always better to be cautious than to learn the hard way like the guy did.

If it is not intentionally done, then yeah. I say that obviously because there are also crazy people who did that intentionally. If their main intention is to just manipulate the crypto or the entire market then I think this is literally crazy. I mean they can just do it the normal way and they might still actually earn, though this can be a tactic for them to get the attention more of the public.

I think slippage must be like a trading fee and it is as important as the actual trading part for one to overlooked because we may not profit if the fees are high but after all, indeed that it can still act as a reminder and a good information to those who are less aware of this yet.

[henry_of_skalitz]

Which was the platform that it happened on? Did you get the info from some source / X?

[passwordnow]

While there are stories of how a trader turned a single digit into 6 digits, this is the reverse of it. Most of the traders that are into this knows what they do but for OPs example, he seem not to understand and forgotten about the slippage. Most of these reports were done to hype a coin and make people think that someone who's make a lot can also be the same to theirs. But on this, it's the opposite of it but I don't think people will think that they'll be on the same shoe and being unfortunate like that guy.

[betswift]

While there are stories of how a trader turned a single digit into 6 digits, this is the reverse of it. Most of the traders that are into this knows what they do but for OPs example, he seem not to understand and forgotten about the slippage. Most of these reports were done to hype a coin and make people think that someone who's make a lot can also be the same to theirs. But on this, it's the opposite of it but I don't think people will think that they'll be on the same shoe and being unfortunate like that guy.

We tend to look at the brighter side of anything rather than the one that stinks and hurts us in the end, so, yeah - some are ignorant, some are more bold than others, and that's the case we need to digest and understand to be more cautious going forward.

[Dunamisx]

🚨 A trader turned $1.2M → $6 in just 5 minutes.


Yep. That’s not a typo. Here's what happenend:
Bought $PEPE options.

Didn’t realize slippage was 99.5%.

Platform didn’t warn him.

Market crashed while he was adjusting.

⚠️ Lessons:
— Always double-check slippage
— Never YOLO during volatile events
— Use test trades before size

Even OGs make rookie mistakes.

Before you take any market trade, try to do your research very well and mostly not in periods where the volatility is very high, because you could easily go on a high leverage position and your money get liquidated instantly, but when you are taking a lower position, it reduces the risk, also, being a trader, i expect him to think about it as a lesson and would have expected for something related before now, so that he can manage to take the risk after it has happened and then prepare ahead to avoid a reoccurrence.

[passwordnow]

While there are stories of how a trader turned a single digit into 6 digits, this is the reverse of it. Most of the traders that are into this knows what they do but for OPs example, he seem not to understand and forgotten about the slippage. Most of these reports were done to hype a coin and make people think that someone who's make a lot can also be the same to theirs. But on this, it's the opposite of it but I don't think people will think that they'll be on the same shoe and being unfortunate like that guy.

We tend to look at the brighter side of anything rather than the one that stinks and hurts us in the end, so, yeah - some are ignorant, some are more bold than others, and that's the case we need to digest and understand to be more cautious going forward.

While many looks at the brighter side, sometimes it's hard to believe that reality if it's really a reality with all of those stories that are published. In the long run, you'll get to understand why they're doing this and that's to advertise some projects. But as for those that have an opposite results and making losses instead of profits, they're something else and you'll never know if it's still a part of exposure that they does or some tale said or a real thing but most likely, they're the latter.

[Odusko]

Is this big slippage even possible? aren't most of DEX nowadays use slippage protection enforcing 0.5% in every swap or even lesser?

I think the trader is manually setting slippage at 100% so his tx got frontrun by MEV bots.
If you stick with low slippage, you will not lose your money like this. Also, MEV protection is a thing.

Yeah we have many of them with such protective measures to stop such error, alot of time it occurs and if one is not care you commit an error and it can cost you alot, so have such a feature that change low fees is highly welcomed right now.

[AmoreJaz]

Is this big slippage even possible? aren't most of DEX nowadays use slippage protection enforcing 0.5% in every swap or even lesser?

I think the trader is manually setting slippage at 100% so his tx got frontrun by MEV bots.
If you stick with low slippage, you will not lose your money like this. Also, MEV protection is a thing.

Yeah we have many of them with such protective measures to stop such error, alot of time it occurs and if one is not care you commit an error and it can cost you alot, so have such a feature that change low fees is highly welcomed right now.

Such dilemma usually happens in tokens or other coins. But not for btc. You may lose some, but not that much like the one posted by the OP. That would be a devastating moment for that pepe holder. Such a waste venturing into this kind of cryptocurrency. Hence, you need to be very careful with tokens and other alts. The reason why there are so much hate or other negative feedback towards crypto is owed to something like this. People should know the real reason why such huge loss happened.
Also do take note when you are dealing with tokens via DEX -
> check the slippage, compare it with other DEXs
> check the contract if you are in the right network, as some scammers can create the same name of token with different contract
> always double-check the price before you execute your trade
> when I deal with ETH token, I usually check the gas fee so as not to transfer a token and incur hefty fee. Some people are careless on this.

[mich]

Well Pepe is not a meme coin I would want to invest in. And now it is down 21 percent in only last 7 days.
I do know all of the coins are now losing gains in this last 7 days. But a meme coin like this we should not think we can make alot of profit from hodling it.
A meme coin like Pepe is only a joke. I do not think I can make some profit if I invest my fiat in this kind of meme coin. For that it is only Doge coin and and Sib but I do only hodl some Doge.

[Popkon6]

Well Pepe is not a meme coin I would want to invest in. And now it is down 21 percent in only last 7 days.
I do know all of the coins are now losing gains in this last 7 days. But a meme coin like this we should not think we can make alot of profit from hodling it.
A meme coin like Pepe is only a joke. I do not think I can make some profit if I invest my fiat in this kind of meme coin. For that it is only Doge coin and and Sib but I do only hodl some Doge.

Pepe Coin is currently facing a lot of dumping, it is very difficult to find Pepe Coin holders for holding at this time. No one can hold this coin now, those who are smart are mainly focused on Bitcoin, if you notice that all Altcoin prices except Bitcoin have not increased this season, although they have increased a little.
Many people are saying that the Altcoin session has not started yet, and are mentioning such speculations, repeatedly holding this Altcoin is much more important than facing difficult situations for holding Bitcoin.