What happened across the bridge- finally lost my $10 to a rug pull What started as an exploration soon became an addiction and in 3 days, my $10 became $57 from buying and trading some shit coins on the Dogechain. Nice profit! that was so quick. However, I switch from buying shit coins to NFTs still on the Dogechain. I was so careful not to fall into a scam project but there was nothing I can do! I got addicted and lost my self-control and I was throwing my money into any new projects I could find! I bought and sold a few NFTs for a quick profit as soon as I can for the fear of being rugged. Though the profits were just a few bucks here and there, I was satisfied because I do not have any interest in starting a long-term NFT investment on the Dogechain. My best result was from NFT trading on the Doge Yach Ape club where I minted 3 Apes for 150 wdoge, about $9 at the time of the mint. I sold one of the Apes NFT quickly at 300 wdoge which was around $18 to recover my money and make some profit in case they rug pull. Now, I have 2 Dogeyach Apes NFTs in my wallet. And the project is holding strong with a floor price of 200 wdoge which is around $12 now. The result from the Dogeyach Apes NFTs urged me to try my luck in more projects with a cheap entrance. I want to experiment a bit with more projects as most people expect huge profits on NFTs, I was just there for a quick buck. I became a bit of an investment junkie, going from one new project to the other as I continue to search for a rare gem that could lead me to great rewards. Again, I joined the Crypto Rats project, a migrated project from the smartBCH chain, and minted 3 Rats NFTs from the limited collection which was sold out in a few hours. A favorable error happened, instead of 3 Rats, I got 4 for the amount of 3. Although I notified the project team about the error, I was told to keep the extra Rat as I minted them myself. That was a rare occurrence and I thought it was my lucky day. I bought all of the 3 Rats NFTs for 297 wdoge, around $18.50. I sold all 4 Rats 700 wdoge and cash out to save my money for investing in a new project. Selling those Rats was a decision am still regretting because they were only a 2k collection and now sell at high prices. Still, on a profit from 3 Rats NFT, I decided to invest in a random project that suddenly popped up. The mint price was cheap, only 40 wdoge, about $2.67 at the time of mint. I went in with 480 wdoge and minted 12 NFTs. I wanted to keep the NFTs for the long term but I changed my mind as soon as I saw a lot of people selling at a very low price even for rares and specials. I sold 10 of the NFTs for a total of 600 wdoge and keep the rarest 2 in case the project picks up popularity in the future. At the moment, the NFTs are worth about 50 wdoge floor price. Here is where I got it wrong and lost my money with some worthless NFTs I have listed on oasis. This project caught my fanciest eye for it being the first anime art collection on the Dogechain. I thought it will be massively received and minted out in minutes, but I was wrong. It turned out to be a shipwreck for everyone who invested in the project. At 77 wdoge, the Digidoge anime NFT looks great for the money. I decided to buy it as soon as the mint started thinking it will mint out quickly because of the lower collection and the art quality. I foolishly assumed all these, and although I had the NFTs I minted listed immediately for sale, I got one sale out of the 4 NFTs I listed. I woke up this morning to discover the project has been rugged and all social media channels were deleted. So there you have it, I was able to trade a few NFTs for a quick profit and now lost a chunk of the profit to a project that ran into complications. I learned from my mistake and I will be very conservative from now on before I join any project in the Dogechain community. I will not invest unless I know the project has no chance of failing with a solid roadmap and a strong team. Although the Dogechain NFT market is a shit hole for scammers, I will still hang around and keep searching for the gem that will turn out to be a high payer. In total, I lost 258 wdoge, about $16, but still have 458 wdoge ($28), 2 DogeApe yach NFT, 2 Apepunk NFT, and 3 ShibaInu NFT. All the NFTs I kept are from the projects that are developing and have the potential to make a good profit in the future. So far, my profit has been more than my loss. My $10 Dogechain adventure could now be well over $100 if I should sell all the NFTs I have in my wallet and sell those free DC tokens airdrop I got for using the Dogechain bridge. It doesn’t mean I am giving up on Dogechain NFTs market, because the hype there makes it easier to buy and sell NFTs quickly.
38¢
-
@emily2u
10¢
-
@fantagira
10¢
-
@Jane
5¢
-
@Olasquare
5¢
-
@BlueFlipper
2¢
-
@Gaftekloriginal
2¢
-
@Knowhere
2¢
-
@Lixten
2¢
- +KT
- +BCH
Log in to join in Reading is open to everyone. Replying needs an account.
8 comments
Scammers are really everywhere.. Taking advantage of the newly launched chain.
Yeah, I never thought it will be that quick for an NFT project to rug pull.
I didn't know they had rugged. Too bad.. Hopefully, better luck next time.
That’s how we learn our valuable lessons and start doing more dyor. I can totally get you though. NFT minting and flipping is so addictive 😅 Your DAYC will sure help you recover your losses!
In fear of scam projects, I am not able to move. congrats you earned more than you lost.
You got so addictive to it and it's understandable. It's a tricky part and even happened with the sBCH back then with me too. I haven't tried my hands on this Dogechain though... Sorry, brother... We win some we lose some... We have ruggers everywhere.
I've still yet to explore Dogechain. Somehow, with the many things that are happening in real life, I'm not enthusiastic about a new chain for now.
I remember my partner he lost some also sir because the one he buy then the unexpected happened which was the rug pull.