A crypto investor revealed that his long trade on the popular memecoin PEPE exploded and he lost his entire holdings of over $1 million.

April 12 was interpreted as a major disappointment in the cryptocurrency market. The leading cryptocurrency Bitcoin (BTC) fell to the 65,000 band. The 8.5 percent drop in BTC also affected altcoins.

Many altcoins have dropped close to 20 percent in the past day. Since altcoins have been on a downward trend for a while, yesterday’s decline was the last point. Nearly $ 1 billion was liquidated and nearly 300 thousand traders received liquidation notifications.

A user named Crypto Nerd revealed that he lost all his savings after the recent drop. The trader was frustrated with his PEPE trade.

Crypto investor frustrated: $1 million lost

A trader named Crypto Nerd announced that he lost all his savings in a post on X. The trader stated that he has been active in the crypto market since 2017 and lost over $ 1 million in assets with the recent decline.

The tweet, which received 3.7 million views, quickly became the agenda of social media. The trader stated that when he woke up, he learned that he was liquidated and his transactions exploded. Crypto Nerd stated that he took a long (bullish) trade on PEPE with 3x leverage. This trade was liquidated after PEPE suffered a severe drop yesterday.

The trader stated that he didn’t even have $1,000 in his bank account, but he managed to make a $1 million asset on the Binance exchange. With the explosion of the PEPE transaction, all the assets the trader had accumulated since 2017 evaporated.

The trader, who stated that he had wasted his years, attracted attention with his depression. “I have no reason to live,” the trader said. Many crypto investors sent messages of support to the trader.