A trader has reportedly suffered a significant loss of 3,731 SOL, equivalent to $775,000, within a span of an hour due to FOMO (Fear Of Missing Out) buying.

What Happened: According to a tweet posted on Tuesday, the trader spent 5,004 SOL to acquire 790,236 SLERF at its highest price point of $1.32.

After the price of SLERF plummeted, the trader further invested 2,500 SOL ($517,000) to purchase 650,330 SLERF at $0.80 during a price rebound. However, the price of SLERF experienced another drop following his purchase and the trader eventually offloaded all his SLERF for 3,774 SOL, worth $784,000.

This translates to a loss of 3,731 SOL or $775,000.

Another trader experienced a similar fate,…

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