Earlier today a friend of mine lost a lot of money as a project was rugged pulled ow should I say she ran into a loss. being a heavy crypto investor, she basically invests in anything of value and anything she finds worthy of a buy i.e she always does her own research.
The project she invested in was just newly launched and their token was a little bit extremely cheap. the starting price was around 0.000000002 dollars for one at first. she invested 30 dollars. all of which was around two days ago.
Getting to today, she discovered that the token has risen to a value of 200 dollars in the afternoon. Not long after that occurrence, a FUD starting flying online that the price of the coin was dumping fast. Everyone in the group FOMO and sold almost what we have in our wallet.
this particular friend didn't FOMO and held her Coin tightly and she saw a decline of her token price from 200 dollars to 50 dollars. I sent her dm telling her to sell her coin but the reply she gave me was that two whales were dumping the coin and that's why the coin dumped.
this further highlights the fact that most of us only follow market trends without knowing what enacted such a trend. by the end of the day, her 50 dollars turned 342 dollars. while others where regretting she was swimming in wealth just by doing her own background checks and making a decision on her own.