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SOL Crypto veterans warn: A few sellers can empty Meme coins in minutes
On July 13, Ogle, a long-term trader who has been engaged in cryptocurrency trading, issued a warning that when a few large players decide to sell, those small Meme coins with limited liquidity may collapse in a few minutes.
The market observer cited the recent losses of popular project CASHCAT as an example to reiterate the risk of chasing fast-paced tokens-under the combined effect of leverage, weak liquidity and highly concentrated positions, the gains on paper may disappear instantly.
Why a few wallets can shake the entire market
In a post on the X platform, Ogle made a basic observation on this market phenomenon: a large number of traders hold hundreds of thousands or even millions of dollars in unrealized gains without actually cashing out. In his view, as long as two or three of those traders start selling, it will trigger a significant price decline, especially for small Meme coins.
He wrote: "In this market environment, if a large number of people hold hundreds of thousands or millions of dollars in unrealized gains on a token, then as long as two or three people choose to sell (if the token is small, especially the illiquid Meme coins), the whole situation will collapse quickly."
The analyst explained that if the token was launched on a perpetual contract exchange, the problem would get worse-because traders often borrowed money to make large bets.
He cited CASHCAT, a Meme coin built on Robinhood Chain, as an example. Its price has soared by more than 3200% in the past week. About a day ago, its market value once reached about $226 million, and the price hit an all-time high of $0.2288 (data from CoinGecko).
According to Lookonchain data, there were some winners in this rally: One trader bought 15 million CASHCAT units for about $838, earning more than $1 million. However, if he had waited a few more days, he would have made nearly $2.9 million. Another trader invested $69 and sold for $711-although he achieved a 10-fold gain, the investment could have been worth $2.7 million if he had waited patiently.
However, as Ogle points out, these traders may also suffer losses-because the asset went through a considerable liquidation after Hyperliquid launched a perpetual contract. CoinGecko data showed that CASHCAT prices plunged about 60%, and about 90% of long positions were liquidated, exacerbating selling pressure and volatility. As of press time, the Meme coin had rebounded, trading slightly below US$0.16, but it still fell by more than 18% in 24 hours, more than 30% from its historical high.
Utility Tokens vs. Short-term Meme speculation
Ogle is an adviser to World Liberty Financial, which is backed by the Trump family. He said in a post on the X platform that although Meme coin can bring quick returns, his trading experience shows that the biggest gains often come from assets that focus on practicality, such as Solana, BNB, Ethereum, Litecoin and Bitcoin.
In his view, these investments are slower games that require patience, and many traders often lose interest before the assets bring greater returns.
