Crypto Trader Sinks $88,900 On Drake-affiliated WYNN: 'I Will Never Forgive You For Making Me Lose This Much'

On Friday, a pseudonymous cryptocurrency trader named Osa went viral with a screenshot showing a $88,900 loss on Anita Max Wynn, a memecoin affiliated with rapper Drake.

What Happened: The trader's screenshot speaks for itself:

Adding insult to injury, the funds were not profits but "his personal money," as Osa clarified in a reply. 

WYNN has lost over 90% from the average buy price of $0.04041 and added a zero to trade around $0.0032 at the time of writing.

The screenshot did not earn Osa any sympathy from the community though.

"Another Solana s--tcoiners masterclass," said "shadowy super speculator" Wazz, adding that this was the end result of all memecoins. 

"Nobody made you do anything bro," another user chipped in while one speculated about the influencers "shilling it" spending their gains on "private jets and weekend casino trips."

One anonymous user shared the tweet, saying the main reason why people do not "make it" in crypto is because they do not take responsibility for their actions. 

"It's up to you to manage your investments and not just gamble," he concluded.

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Why It Matters: While memecoin-related rags-to-riches stories are common in the crypto space, there's also the flip side.

Benzinga recently reported on a trader losing $250,000 on leverage trades. Another crypto veteran called the space an "unhinged casino."

While many influencers promise the possibility to make "life-changing gains" in the next two years, it's worth remembering that identifying "winning" memecoins is a skill that needs to be mastered.

What's Next: With the release of Open AI's text-to-video model, AI-related memecoins like Sora might catch a bid from speculators.

Read Next: Forget Bitcoin? This Top-50 Altcoin Could Explode 1,400%, Analyst Says
Image: Illustrated of MidJourney