According to Lookonchain, the price of $LLJEFFY experienced extreme volatility after rumors of Jeffy Yu's fake death circulated, causing a rapid surge followed by a steep decline. This event led to significant losses for traders who engaged in FOMO buying, with one individual losing $93,000 within just one hour (source: Lookonchain, May 7, 2025). Such sudden price swings highlight the high-risk nature of meme coin trading and underscore the importance of risk management strategies for crypto market participants.

According to Lookonchain, a trader lost $93,000 in just one hour after investing 1,046 SOL ($149,200) into the Solana-based meme coin $LLJEFFY following a week of inactivity. Shortly after the large buy-in, news of Jeffy Yu’s fake death surfaced, causing $LLJEFFY’s price to crash. The trader panicked and sold all holdings for only 394 SOL ($56,200), realizing a significant loss. This incident highlights the extreme volatility and risk linked to meme coins on the Solana blockchain, especially when trading volume reacts sharply to social media rumors (source: Lookonchain via Twitter). Crypto traders should exercise caution with low-liquidity tokens and monitor social sentiment closely for risk management.