What is FOMO

FOMO stands for “Fear Of Missing Out,” which is translated into Chinese as “错失恐惧症.” The term was first introduced in 2004 by Patrick J. McGinnis in the article Social Theory at HBS: McGinnis’ Two FOs, referring to a psychological phenomenon where people are afraid of missing out on certain experiences, activities, or opportunities.

In the crypto field, it more often refers to investors making irrational decisions to buy or trade cryptocurrencies out of fear of missing the chance to get rich overnight, without conducting proper due diligence.

So, what are the dangers of FOMO?

Taking Meme coins as an example, such as Squid Game ($SQUID), after launch, it attracted a large number of investors in a short period due to FOMO. However, the subsequent price trend was far below expectations, and once the hype faded, its price nearly dropped to zero. What about those investors who entered due to FOMO? Their situation can be imagined. $GTC **$CELR **