A trader who bought with FOMO in the crypto market lost $477,000 in 9 days after the 17.85% drop in the PEPE token.
Hasty trading in the cryptocurrency market continues to cause major losses. An investor’s latest transaction in PEPE revealed a remarkable loss.
According to data provided by Spot On Chain, a trader with the address “0x4ec” spent 4.75 WBTC and 150,000 USDC on December 10 to buy a total of 60.782 billion PEPE. This purchase, worth $1.59 million, took place at PEPE’s local peak. However, with PEPE’s value falling by 17.85%, the trader sold all of his assets today for just 1.108 million USDT. This transaction caused the investor to lose $477,000 in just 9 days.
In the cryptocurrency market, purchases and panic sales driven by “FOMO” (Fear of Missing Out) can increase traders’ losses.
According to CoinGecko data, PEPE is finding buyers at $0.00001897 at the time of writing, with a 12% loss in value in the last 24 hours.
Stay tuned.