The full name of FOMO is "Fear Of Missing Out", which is translated as "Fear of Missing Out" in Chinese. FOMO was first proposed in 2004 by Patrick J. McGinnis in the article Social Theory at HBS: McGinnis' Two FOs . Here it refers to a fear of missing out on something. The psychological phenomenon of some specific experiences, activities or opportunities.

In the Crypto field, it refers more to investors purchasing or trading cryptocurrencies without conducting due diligence because they are afraid of missing out on the opportunity to "get rich overnight." irrational decision.

So what are the dangers of FOMO?

Take Meme coins as an example, such as Squid Game ($SQUID). After its launch, it relied on FOMO to attract a large number of investors in a short period of time. However, the subsequent price trend was far less than expected. After the popularity faded, its price Even close to zero. As for those investors who enter the market with FOMO? One can imagine their situation.