Traders Face Massive Losses in Meme Coin Market – BitRss

Lookonchain, a blockchain tracking firm, has reported a significant development in the cryptocurrency market. A trader suffered millions in losses after conducting transactions with a meme coin named after Melania Trump, known as MELANIA. The investor acquired approximately 14 million MELANIA tokens for a value of 30 million dollars, only to sell all assets later amid market declines, resulting in a loss of 15.68 million dollars.

Trader Transactions and Losses

The Lookonchain report indicates that the investor recently divested all MELANIA assets at a loss. Additionally, the report revealed that another major trader incurred a loss of 3.73 million dollars during these meme coin transactions. These trading activities highlight the volatility and high risk inherent in the token investment world.

Moreover, similar loss patterns have been reported concerning the meme coin TRUMP ($12.82), also named after President Trump. A major investor suffered a 24.4 million dollar loss in transactions related to this asset. The significant drops shortly after the launch of both projects are considered strong examples of market volatility.

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