Analysts at Lookonchain reported that an unknown trader lost $1 million on investments in the BARRON memecoin, allegedly linked to Donald Trump's son Barron.
According to them, the trader lost his investment in just a couple of hours due to the so-called FOMO. According to the information provided by the experts, the trader acquired token , when it was trading near its all-time high, and sold the asset when the memecoin sharply dropped in price.
Experts pointed out that BARRON was not issued by the Trump family. Currently, the only tokens officially issued by them are TRUMP and MELANIA. They urged to avoid FOMO and trade with extreme caution.
Let us recall that the launch of the OFFICIAL TRUMP and Official Melania Meme memecoins from the Trump family attracted the attention of not only retail traders, but also large institutional structures. Speculators took advantage of this, so some traders fell victim to this situation without calculating the consequences of their actions.
According to experts, memecoins associated with the Trump family have caused a dramatic shift in the cryptocurrency market, showing how politicians can influence the industry.
