There was a time when the loudest folks on social media ran my meme coin trades. I’d see all these influencers bragging about their profits and feel the need to jump in. By the time I got into the action, the opportunity had already passed. It was like expensive tuition for the lesson that I should’ve learned earlier: FOMO definitely has its costs.
So, I started making some rules for myself: don’t jump in during peak hype, enter with small amounts, and plan my exits ahead of time. This made my trading way more chill and reduced the emotional rollercoaster. Meme coins are still wild, but I don’t feel like I’m just a target in the market anymore.
FOMO still tries to nudge me, but having a solid plan keeps it at bay. How about you? Do you let the hype rule your trades or do you stick to your own strategy?
The Cost of FOMO
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SilentYieldSenior Member
Posts: 145 · Reputation: 1003
#2Nov 20, 2020, 01:30 PM
For me, hype can sometimes be a signal to watch, but rarely to enter.
People that profit the most from the meme coins are platforms like Pump.fun that lauched thems and crypto exchanges that listed them. Most people that are investors or traders that bought them are reporting to be losing. If you do not believe me, you can read the report from Galaxy Research.
https://www.galaxy.com/insights/research/memecoins-pump-fun-solana-kols
True. Hype often signals noise, not entry. I see it as a warning, then wait for clarity before committing capital.
When an influencer is shilling for a coin that has made some serious gain you know they are just finding exit liquidity.
Those influencers aren't your friend, they are also profit seekers just like you so them spending time creating post will always have ulterior motive.
I would never ever get a financial advice from some stranger and even If I happen to stumble into pretty solid advice I will always do a research about it.
Being paranoid is a must when we are talking about PVP trench like meme coin markets .