A trader lost about $907,000 in one day after making two FOMO trades in MEME and SLINK, Lookonchain said. The trader spent $916,500 to buy 7.28 million MEME at $0.126 and later sold the holdings for $353,000, a reported loss of $563,000, or 61.45%. The trader then invested $356,000 to buy 8.93 million SLINK at $0.04 and sold the position for about $12,000, losing $344,000, or 96.62%. BlockBeats warned that most meme coins lack practical use cases and can be highly volatile.