A cryptocurrency whale has lost nearly $900,000 in just four hours trading a meme-inspired cryptocurrency after spending around 5,800 SOL worth $916,000 to buy into the Trump-inspired cryptocurrency Restore the Republic ($RTR).

According to on-chain analytics firm Lookonchain, the whale bought 7.2 million RTR tokens at their highest price over fear of missing out but ended up selling their entire holdings after the price of the cryptocurrency crashed. They managed to cash out just 113.3 SOL worth around $18,000, to realize a loss of $898,500

As CryptoGlobe reported, the token saw its price plunge by a whopping 95% after the son of U.S. Presidential candidate Donald Trump, Eric Trump, denied the token was associated with the family.

The denial came in response to a now-deleted post on the microblogging platform X (formerly known as Twitter) from the account of Students for Trump chair Ryan Fournier, who suggested it was officially associated with the presidential candidate.