Trader Loses About $907,000 After Two FOMO Trades in One Day

A trader suffered combined losses of about $907,000 after making two consecutive FOMO trades in one day on September 5. According to BlockBeats On-chain Detection, the trader first spent $916,500 to buy 7.28 million MEME at $0.126 each, then sold the position for only $353,000, resulting in a loss of $563,000 and a 61.45% decline. The trader later invested $356,000 to buy 8.93 million SLINK at $0.04 each, but eventually sold for about $12,000, losing $344,000 in the process. The second trade represented a 96.62% drop. BlockBeats reminded users that most meme coins have no practical use cases and are highly volatile, urging investors to protect their assets and avoid FOMO.