Litecoin Mascot (LESTER) - a meme coin with a mascot theme using the image of Litecoin - has attracted attention in the crypto investor community in Vietnam over the past month. However, the price of LESTER has been continuously dipping, making it impossible for many investors to recoup their capital.
Despite going through many seasons, Vietnamese investors still repeat the classic mistakes in weighing risks and opportunities.
Investing 800 USD in LESTER only left 10 USD
Just a month ago, LESTER emerged as a meme coin that initiated the mascot meme coin movement.
Also Read: Denied by Litecoin, what will happen to the fate of Litecoin Mascot (LESTER)?
In the Vietnamese community, LESTER was expected by some KOLs with large followings. In fact, one of these KOLs predicted that LESTER could reach 0.5 USD and attracted nearly half a million views.
"Reasons to buy LESTER: (1) Litecoin Mascot was inspired by Dogecoin - the top meme coin. (2) Litecoin Mascot belongs to a breakthrough narrative, which changes EVERYONE's perspective on memes, most of whom are tech enthusiasts." - Investor Thế Khương predicted.
But by the end of December, LESTER recorded a decline of more than 97%, from a high of 0.17 USD to 0.0045 USD at the time of writing. Many thousands of USD investments by Vietnamese investors are now only worth a few dozen USD. Investor Nguyễn Sĩ Hùng said he had invested 800 USD (about 20 million VND) and now only has 10 USD (about 250,000 VND) left. Investor Binz also said he had bought 8,500 USD (about 216 million VND) of LESTER and now only has 1,700 USD (about 43 million VND) left.
Price fluctuations of Lester (LESTER). Source: CoinMarketCap."LESTER has wiped out Vietnamese holders before the threshold of the upcoming 2025 uptrend paradise." - Degen Insights commented.
Losses due to LESTER have left many investors without capital to miss out on many Altcoin opportunities in the past month. Although investment decisions are personal, the losses from LESTER have sparked much criticism within the community. Many speculations suggest that the team behind LESTER is Vietnamese.
The market capitalization of the Mascot meme coin theme does not show signs of capital inflow
Data from CoinGecko shows that the market capitalization of the Mascot-themed meme coin market is around 66.5 million USD after continuing to decline by 11% today. The trading volume for the day also only reached nearly 27 million USD.
After a month of launch, the Mascot theme has not created much attraction in the market. Especially as the meme coin fever has cooled down recently, with trading volume and market performance declining.
Overview of the Mascot-themed coin market. Source: CoinGecko.Many investors tend to choose low-capitalization meme coins in the hope of achieving high returns. But that doesn't always work.
"That action clearly shows immaturity and lack of market experience. The opportunity with memes only remains when they are still on DEX and have low capitalization, but when the capitalization has reached hundreds of millions + major KOLs are actively mentioning them, it's best to avoid. Furthermore, with high capitalization but only a few thousand or tens of thousands in liquidity, don't dare to touch it either. With LESTER, even if it has a 5x-7x in the time to come, it won't mean anything after already dividing 10-20 times!" - Investor Đừng Đu Đỉnh commented.
Also Read: Risks from the Meme coin Emoji trading trend in the Vietnamese crypto community
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