Made $20k in 4 days and lost $50k in minutes on a memecoin…tell me I’m not alone 😔
I’m a 49 year old father of 3, business owner with very limited risk appetite and very basic involvement in crypto (occasionally buy Solana, ETH and end up selling for either small or no profit). No history of any sort of gambling addiction whatsoever but business has been bad, so have been looking at various get rich quick schemes for a while. Was trawling through the Binance forums when I came across the meme coin AriaAI which everyone was talking about and had just dropped from an ATH of $1 to .10 and quickly recovered. Did a bit of reading and was convinced it was a technical issue and not a replanted rug pull.
Decided to drop $1000 on it and try to day trade. The spreads were awesome and before you know it I had made $300 on auto buys and sells that day. Before you know it (like literally the next day) I’ve dropped $10k which turned a profit of $1500 just setting auto buys and sells, the next day $20k in and $4k in profits. Steadily trading one session per day. On the last day I’m $28k in plus 12k in profits and trade 2 sessions where I make another $9k. Had never seen this much money in such a little time in my entire life, and I was literally doing nothing other than setting auto buys and sells with no stop losses. Zero homework, zero understanding of the market or coin other than everyone in Binance square going ‘Go Long on Aria’. $49k I go all in for one last trade (3rd for the day) to try and make $10k for the day and boom…the rug gets pulled and the price crashes from $1.0 to 0.11 in a matter of minutes while I was away from my phone. Kept hoping it was another technical crash and hoping for the bounce but seems it was the final rug pull. Sold about half my coins at the first low, but kept the balance in blind hope of a rebound but it now all seems confirmed dead. If I sell the rest now my $49k is worth $4k. A technical loss of $45k but real time loss of $24k.
Went from my wife and eldest thinking I was the smartest guy on the planet, to feeling like the biggest fool to ever live. I feel so ashamed of myself, don’t even know why I’m posting on here maybe wondering if there’s been anyone as stupid as me and who went all in on their capital and lost everything in as short as time as this? Didn’t know where to post this, so came here 🤷♂️
Not been able to sleep or eat properly, and even though my wife and son tell me they’ve forgiven and will forget I don’t know if I can ever get over the shame and disappointment.