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A crypto investor lost hundreds of thousands of dollars in a short time due to a panic meme coin transaction.

According to data provided by the on-chain analysis platform Lookonchain, the Solana (SOL)-based meme coin investment turned out to be costly for a crypto investor.

The investor in question was lured by the rising appeal of a meme coin called “cat in a dogs world (MEW),” launched on March 26th, and bought 223.9 million MEW for 3,500 SOL.

However, as the price of MEW started to decline shortly after, the investor began to panic. After approximately 3 hours of making the purchase, the investor took action to sell and sold all of their MEW assets for 2,429 SOL.

As a result of this FOMO-filled meme coin transaction, the investor lost 204 thousand dollars’ worth of 1,071 SOL in just a 3-hour time frame.

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