First, chasing pumps without research, driven by viral X posts or Binance’s #BinanceTurns8 promotions, often results in buying at peaks. Second, over-leveraging in futures trading liquidation, especially with memecoins’ 20-50% swings. Third, ignoring stop-losses exposes traders to sudden dumps. Fourth, neglecting fees (~0.1% spot, higher for futures) erodes profits. Fifth, emotional trading—panic-selling or FOMO—disrupts discipline. Lastly, failing to verify projects leads to scam losses, like rug-pulls. Avoid these by researching thoroughly, using tools like Santiment for sentiment, setting risk limits, and staying skeptical of X-driven hype. Discipline and caution are key in this speculative market.
