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.