An anonymous trader identified by wallet address 0x4ec lost $477,000 from investments in token -meme Pepe (PEPE). The reason for the big loss was FOMO or fear of missing out.
According to Spotonchain data, on December 10, he spent 4,75 WBTC and 150 USDC (around $000 million in total) to buy 1,59 billion PEPE tokens. At the time, index of fear and greed cryptocurrency was at 78, and memecoin was close to a new all-time high.
However, after Pepe fell more than 19% on December 10, the trader panicked and sold all his assets, recording a significant loss.
Token -Pepe meme launched on blockchain Ethereum in 2023 and quickly became a favorite among memecoin investors. The frog coin currently has the third-largest market cap in its asset class, behind only Dogecoin и Shiba Inu .
Over the past year, the price of PEPE has increased by 1400%, and its market cap has increased more than 16 times. On December 9, the memecoin reached an all-time high of $0,00002825. However, over the past week, token has lost more than 23% and is now trading at $0,00001873.
