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The cryptocurrency community often sees investors making huge profits with ease. However, the opposite scenario is also quite common.
Investors usually prefer memecoins to make money easily and quickly. Due to their highly volatile nature, memecoins can provide huge profits to investors who make the right moves, but can also cause huge losses to investors who get caught up in FOMO.
At this point, one unfortunate investor lost his millionaire status in 16 hours.
This investor, who first invested all-in in the memecoin called BARRON, invested over $1 million.
However, this investor, who lost a lot at Barron’s, sold at the bottom and, caught up in FOMO, spent nearly a million dollars on three trending memecoins to recoup his losses.
The unfortunate investor first invested in Donald Trump’s token TRUMP. However, the investor who lost money on TRUMP chose another failed memecoin, Elon Hitler (Etler), as his second. Despite having the name Elon, this memecoin had no connection to Elon Musk.
The investor, who also lost in Etler, was pushed to Fartcoin, which has a history of earnings, after his last loss. However, the investor failed again and only had $40,697 left from his $1 million investment.
Left with only $40,000 from his $1 million investment, this investor has become a prime example of FOMO and misjudgment.
*This is not investment advice.
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