A trader lost 3,731 SOL in 1 hour by trading SLERF

According to Lookonchain monitoring, a trader lost 3,731 SOL (valued at approximately $775,000) in just one hour through trading SLERF. It is reported that the trader spent 5,004 SOL at $1.32 to purchase 790,236 SLERF. After the purchase, the price of SLERF began to plummet. When SLERF rose again, the trader spent an additional 2,500 SOL (valued at approximately $517,000) at a price of $0.8 to purchase another 650,330 SLERF. Unfortunately, the price of SLERF fell again after the purchase. In the end, the trader sold all of the SLERF and only recovered 3,774 SOL (valued at approximately $784,000), losing 3,731 SOL (valued at approximately $775,000).