Trader who lost $2.5 million on Shiba Inu now buys PEPE from the top

A meme coin trader appears to be making the same moves that caused him to make a big loss on Shiba Inu. This person, who bought SHIB at the peak during the previous bull season and sold it at a loss of $2.5 million, now bought PEPE at the peak levels.

Trader who lost $2.5 million on Shiba Inu now buys PEPE from the top

In cryptocurrency markets, no matter how high quality and good the projects are, the timing of the investment is also very important. When investing in a project, it is necessary to be aware of the dynamics of that project as well as the course of the market.

A trader who seems to have million-dollar funds is seen to be doing transactions that should never be done, such as buying at the top and selling at the bottom.

According to Lookonchain, today this account made 67 billion ($1 million) PEPE withdrawals from the OKX exchange.

The same account appears to have made purchases 2 years ago when Shiba Inu was rallying, and then underpriced its tokens during two major downturns in 2022. This account lost more than $2.5 million on SHIB. This loss amounted to more than 85% of its assets.

PEPE, as we know, has been in a rally for a couple of months now and has appreciated more than 15 times its pre-bull price… So this trader seems to have bought another meme coin at peak levels.

Trader’s SHIB buy and sell zones can be seen in the chart below.

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