Benzinga – by Khyathi Dalal, Benzinga Workers Author.
A pseudonymous cryptocurrency dealer shared a cautionary story in regards to the risks of sudden wealth from cryptocurrency and meme coin buying and selling.
What Occurred: The story entails a woman who made $250,000 from Dogecoin (CRYPTO: DOGE) and a few from Shiba Inu (CRYPTO: SHIB), GameStop (CRYPTO: GME) and AMC (CRYPTO: AMC) however squandered it inside six months. In 2021, she had invested $6,000 and within the subsequent six months skilled highs when the meme cash peaked.
Lady makes $250k on doge
Proceeds to spend it in any respect in 6 months on donations, medicine, concert events, tattoos, and so forth.
Goes loopy, will get hospitalized, loses her job, buddies, and so forth. and would not have sufficient left to pay taxes
Takes her final $4k and buys extra