Investor on Solana Network Lost 1 Million Dollars Hunting Meme Coin!

An investor lost exactly 1 million dollars by buying a meme coin on Solana network at the peak and selling it at the bottom. On-chain analysis account Lookonchain shared on March 22, that a whale made wrong transactions. The trader bought the SMOLE meme coin at the peak on March 21 on the Solana network and sold it at lower prices, resulting in a 1 million dollar loss. Moreover, the investor spent 2,970 SOL, worth 534 thousand dollars, to buy 479 million tokens of the LADYF meme coin on Solana. Currently, the trader only has assets worth 22.5 dollars and 127 SOL. While stories of investors getting rich are often heard in meme coins, many investors are losing serious money. The money earned causes FOMO in investors.