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Crypto Veteran Warns: A Handful of Sellers Can Wipe Out Meme Coins in Minutes

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Long-time crypto trader Ogle warned on July 13 that small meme coins with limited liquidity can collapse within minutes when a few large holders decide to sell.

Pointing to recent losses around the latest sensation in the space, CASHCAT, the market watcher reiterated the risks in chasing fast-moving tokens, where paper gains can disappear really fast when leverage, thin markets, and concentrated ownership collide.

Why a Few Wallets Can Move the Whole Market

In a post on X, Ogle made a basic observation about this market: that a lot of people are sitting on hundreds of thousands, sometimes millions of dollars in gains that they have not actually cashed out. According to him, if even two or three of these traders were to sell, it would trigger a major price drop, especially for smaller meme coins.

“When a ton of people have made hundreds of $k or $m in a token, unrealized, in this type of market, it only takes 2-3 of them to sell (if the token is small, especially a meme with little liquidity) for everything to collapse quickly,” he wrote.

The analyst explained that the problem became even worse if the token was listed on perpetual futures exchanges, where traders often borrowed funds to place large bets.

He gave an example of CASHCAT, the meme coin built on the Robinhood Chain, that jumped more than 3,200% over the past week and briefly pushed its market cap to around $226 million about a day ago when its price hit an all-time high (ATH) of $0.2288 per CoinGecko data.

According to Lookonchain, that rally saw a few winners, including one trader who bought 15 million CASHCAT tokens for about $838 and turned that into a profit of over $1 million. However, had they waited a few more days, they would have walked away with nearly $2.9 million. Another trader spent $69 and sold for $711, which, while a tidy 10x on their investment, would have been worth $2.7 million had they also waited.

However, things may have also gone south for those traders since, as Ogle noted, the asset experienced some pretty big liquidations, which came right after the launch of a perpetual contract on Hyperliquid.

Data from CoinGecko shows CASHCAT’s value crashed by approximately 60% with about 90% of long positions liquidated, intensifying selling pressure and volatility. At the time of writing, the meme coin had made some recovery and was trading just below $0.16, although that price still represented an over 18% dip in 24 hours, pushing the coin more than 30% below its ATH.

Utility Tokens vs. Short-Term Meme Bets

In his X post, Ogle, who’s an advisor for the Trump family-backed World Liberty Financial, said that while meme coins can produce quick returns, his trading experience had seen him make the biggest gains from utility-focused assets such as Solana, BNB, Ethereum, Litecoin, and Bitcoin.

According to him, those investments are slower plays that require patience, and many traders often lose interest before the assets can deliver larger returns.

Gönderi Crypto Veteran Warns: A Handful of Sellers Can Wipe Out Meme Coins in Minutes ilk olarak şurada yayınlandı CryptoPotato.

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