The Trader Who Lost Millions of Dollars from SHIB is Now Collecting PEPE!
Look On-Chain detected that a failed memecoin trader started collecting PEPE.
The memecoin craze continues in the cryptocurrency industry. Although the bullish movements of joke altcoins attract attention, not every investor succeeds in making profits from these products. Some investors buy and sell at the wrong points.
Look On-Chain, a popular data provider, recently detected that a failed memecoin trader had started collecting PEPE and posted the following information via his X/Twitter account:
“A trader withdrew 67 billion units of PEPE ($1.02 million worth) from OKX 30 minutes ago. It's worth noting that this guy previously lost $2.55 million (-85.5%) on SHIB.
This investor purchased a total of 40.9 billion SHIBs ($2.98 million worth) at high prices in the bull market and sold them all at a loss after sharp declines in the bear market.”
The $3 million in this investor's portfolio dropped to an average of $500,000 due to SHIB investments. The new target of the unsuccessful trader is PEPE.
PEPE, one of the most profitable memecoins of recent times, is traded at $ 0.00001511 at the time of writing our news.
If PEPE continues to replenish its ATH in the coming days, it may enable even this unsuccessful memecoin trader to make a profit.