A trader lost approximately $477,000 in 9 days due to fear of missing out buying and panic dumping of PEPE.

PANews reported on December 19th that on-chain data monitored by Spot On Chain shows that a trader lost about $477,000 due to fear of missing out buying and panic dumping within 9 days. On December 10th, the trader with the Address “0x4ec” bought 60,782 billion PEPE coins with 4.75 WBTC and $150,000 USDC (a total of $1.59 million) when the price was at a local high. However, after PEPE coin dropped by 17.85% within 24 hours, the trader just dumped all assets for $1.108 million USDT, resulting in a loss of about $477,000, with a drop of 30%.