The post Crypto Trader Losses $89,600 HYENA to FOMO appeared on BitcoinEthereumNews.com.

As Bitcoin’s resurgence has fueled the crypto market cap to exceed $3 trillion, Hyena (HYENA) is grabbing users’ attention. The overall market’s growth has lured millions of investors to build luck on the burgeoning industry. Increasing numbers of investors continue to pour funds to grow their wealth in the alternative financial landscape. However, the road is not smooth for everyone. Some end up with hit with hard lessons to learn later. Lookonchain has spotted a trader who has just lost $80.8k within a day. Trader nursed $89.6k loss in FOMO trading With goodies in the markets, investors and traders are privileged to grab them. However, they need an initial investment, appropriate skills, and most significantly, timing to win them. In most cases, making money with crypto works perfectly, and most investors win nicely. However, some losses do happen as several factors come into play. This is what could have occurred to this investor, as he grabbed the chance but invested at the wrong time, losing 90% of his investment. Lookonchain recommends people not engage in FOMO buying. As per the on-chain analytics, the trader spent $89,600 to buy Hyena (HYENA) today. But currently, the trader’s wallet only holds $8,794, making a loss of $80,800 (-90%). Hyena is a new memecoin recently launched to redefine the status quo of meme coins. The new token presale gave the coin popularity in July, a time when early buyers grabbed the opportunity and amassed the token. Hyena was one of the most hyped projects on the Hyperliquid blockchain. It was launched by a team of Hyperliquid whales who have been promoting it. Over 30,000 investors attempted to accumulate the coin following its presale. Thanks to the increased crypto demand and the bullish environment, Hyena started trading on CoinGecko recently. The debut attracted multiple traders…

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Filed under: News - @ January 2, 2025 3:27 pm