BlockBeats News, September 15th, according to Binance platform data, South Korean trader NAMSEOKHEE has reduced his meme coin long positions to 19. The account experienced a significant drawdown in profits, with the MYX long position being liquidated at a loss of $350,000. Currently, the 7-day return rate is -60.52%, and the total account profit has dropped to $26,000.
Previously reported on September 8th, South Korean trader NAMSEOKHEE, who had previously gone long on 107 meme coins in Binance futures, exited after a meme coin season failure and has now returned. Over the past weekend to early this week, NAMSEOKHEE has opened 56 meme coin long positions contracts, once again betting on the meme coin season’s arrival. This time, his strategy is more conservative compared to before: most meme coins have only $300 to $600 in margin, still using 20x leverage, increasing the margin to $2500 only for a few meme coins that he is particularly bullish on, and maintaining the positions without taking profits.
