How This Trader Lost Nearly $500K in 9 Days on PEPE Token?

An NFT evening report revealed that the recent BTC price rally above $100k created 14,211 new millionaires and four new billionaires, creating FOMO among people to achieve the same. However, the crypto market is unpredictable, and profiting trades can bring heavy losses. This is why, this one crypto trader lost nearly $500k on the PEPE token, as his trades were FOMO driven.

How A Crypto Trader Lose $500k With PEPE Token?

Spotonchain, an AI-driven analytics platform’s X post, reveals that an anonymous trader is bearing heavy losses in his PEPE Coin investment. Although profit and loss are common in crypto trading, a few end up following FOMO, which often leads to losses even when the investment is in a profitable asset.

It happened with the trader  “0x4ec” who spent 4.75 WBTC and 150K USDC ($1.59M) to buy…