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Solana
Coin spikes 2x at purchase then drops (screenshot)

Can someone explain how this happens and how to avoid it?

It has happened to me more than once on several coins.

For reference:

  • New Solana meme coin
  • Charting the coin through Bullx
  • Swapping through Jupiter with sol
  • Had already traded twice w/ 20% gains

Price spiked more than 2x when I swapped then dropped back to normal levels leaving me with a 50% loss.

As you can see, others bought and sold around me at normal levels. What did I do wrong?

PS – I know brand new meme coins are like playing slot machines 🙂

https://preview.redd.it/d23poohp7hld1.png?width=646&format=png&auto=webp&s=5b2db79fb2eb7c87468d79a3d3f1c6922452b84a

submitted by /u/dgh_reddit
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