Odaily Planet Daily reports, according to Lookonchain monitoring, a trader first spent $916,500 to purchase 7.28 million MEME at $0.126 each, then sold them for $353,000, resulting in a loss of $563,000, or 61.45%. The trader then spent $356,000 to buy 8.93 million SLINK at $0.04 each, ultimately selling them for just $12,000, resulting in a loss of $344,000, or 96.62%.
Trader Loses $90.7K in Two FOMO Trades on MEME and SLINK Tokens
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Summary
According to Odaily, a trader lost $90.7K across two FOMO trades involving MEME and SLINK tokens. The trader purchased 7.28 million MEME tokens at $0.126 each for $916,500 and sold them for $353,000, resulting in a $563K loss (61.45%). Subsequently, 8.93 million SLINK tokens were bought at $0.04 each for $356K, but sold for just $12K, incurring a $344K loss (96.62%). The incident underscores the risks of disregarding value investing in crypto and failing to recognize key support and resistance levels.
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