An investor lost exactly 1 million dollars by buying and selling meme coins in the Solana network from the peak to the bottom.
On-chain analysis account Lookonchain shared wrong transactions made by a whale on March 22.
The trader in question lost 1 million dollars by buying from the top and selling at lower prices in the meme coin called SMOLE on the Solana network on March 21.
The investor also spent 534 thousand dollars on 2,970 SOL worth of 479 million tokens in the LADYF meme coin in Solana. The trader now has assets worth only 22.5 dollars and 127 SOL.
While stories of investors becoming rich are generally heard in meme coins, many investors are losing significant amounts of money. The money earned leads to FOMO in investors.
