Crypto trader loses $ 59,000 on trading MPLX meme coin

Note: not investment advice!

Lookonchain analysts inform that an anonymous trader suffered a significant loss of $ 59,000 while trading MPLX token. The cryptocurrency owner repeated the same mistake twice, buying the meme-coin at its peak and selling it in a panic after the price dropped.

Initially, the investor bought the token when its price was at its highest, but after the collapse, he sold the asset at a significant loss. Subsequently, MPLX rose again, and the trader decided to repeat the transaction, but after another price drop, he sold the token again, finally declaring bankruptcy.

On social media, in particular on the X platform (formerly Twitter), representatives of the HDAO project noted that FOMO (fear of missing out on opportunities — ed.) and panic are a dangerous combination for investors. They emphasized that discipline and strict adherence to the plan help to avoid such situations.

As a reminder, a cryptocurrency trader recently made a profit of $ 1.25 million in just eight minutes by taking advantage of an early opportunity to invest in the Hive AI token (BUZZ). The transaction was executed on the Raydium decentralized exchange, which is based on the Solana blockchain.

No Worries strongly recommends that readers do not invest in dubious crypto projects and little-known digital assets!