Getting caught up in FOMO while trading can be really risky, as shown in a recent case involving a cryptocurrency called $SLERF.
Here's what happened: A trader initially invested a lot of money to buy $SLERF tokens when their price was high. But soon after buying, the price dropped, causing the trader to lose a bunch of money.
Instead of learning from this, the trader tried to make up for the losses by investing even more money when the price dropped further. Unfortunately, the price kept falling.
In the end, the trader decided to sell all their $SLERF tokens but only got back a fraction of what they initially invested. This resulted in a huge loss of money.
This story shows why it's important to be careful and not make impulsive decisions when trading, especially when influenced by FOMO. It's crucial to manage risks wisely and make smart choices to protect your investments.