Momentum is the only thing that prevents many holders from losing money—and even ensures that every new investor who's in is in profit.
Momentum is also the driving force behind these projects. Once the momentum fades, all those holders who were previously in the green will find themselves at a loss.
I’m not trying to make a specific point here. Just understand at what level you need to exit a given project.
Gems of Ra 💎👁🗨https://dexscreener.com/bsc/0x2f19f30b8be1a00e6a5903953f17244fbfcb0309 $BIBI - I'm monitoring this BSC meme, seems like the new mascott of Binance.
Smart subs are in profits of 2x + already on $bibi
I am not entirely opposed to using FOMO apps, but I have to say this: choose the people you follow carefully. If we assume there are 50,000 people currently in DeFi, I believe 49,000 of them are simply "aping in" based purely on gambling and hype via FOMO.
Details like project explanations, introductions, and functional breakdowns have all but vanished in the wake of FOMO-driven trading. You are essentially gambling. You engage in copy-trading without knowing which coin you are buying or why. Meanwhile, the KOLs you follow just drop a single comment and move on. If you buy based on FOMO, rest assured that someone is ready to sell from their not-known side wallets. If you are very lucky, the project you aped into might make you money. Otherwise, the people you follow will just keep filling their pockets.
Coins should be promoted the way they used to be. Developers need to stop making deals where they contact FOMO KOLs, saying, "Ape to my project via FOMO and I'll give you a bag." These are mostly "farming" scenarios—a win-win situation for them, at least.
"Normies" get "rekt" like that. Consequently, the amount of money circulating in DeFi shrinks.
In my opinion, a confident, high-quality developer/teams wouldn't cut deals with FOMO KOLs. They would let the project's quality speak for itself, ensure clear promotion, and avoid manufacturing hype through FOMO-driven farming schemes.
These are just my honest thoughts. I still don't use these apps myself. Instead, I prefer to share the projects I plan to buy (means not buying before you) by providing detailed information about them.
The goal of this post is to urge you to be cautious. Many FOMO KOLs share copy-trading signals rather than actual information. Of course, they are also lining their pockets while offloading their holdings from secondary wallets.
