Degen is a term used for people who make risky investments in crypto. The abbreviation “Degenerate” means “degenerate”. Degen is the dangerous type of investor and these people are more likely to lose.
What is Degen?
Degen is a term that refers to a cryptocurrency trader trading without due diligence, i.e. without doing enough research, getting caught up in signals and FOMO. Degen is the abbreviation of the word “degenerated”.
People who identify as Degen do not buy a crypto asset because they see value in it. He thinks that after him, others will turn to that asset and speculate about price fluctuations.
It also doesn’t know and essentially doesn’t care about metrics like FDV or TVL. Degen people can even invest in the cryptocurrency simply because they find the logo cute or like the slogan. It also takes extreme account of the discourses of famous people about the entity in question.
What is FOMO?
The word FOMO also means remorse or fear of making the wrong choice. The feeling of FOMO can occur in a variety of situations. It is not only limited to social media interactions, but it is also a concept that can be experienced frequently in the investment world. The FOMO syndrome, the anxiety of not being able to follow the developments in social media, leads people to constantly check their phones or technological devices.
The great fear of losing in the markets of users who are interested in investment and trading business is described as FOMO. FOMO has more of an individual impact than a global one. In the cryptocurrency market, where highly volatile charts prevail, investors often fall under the FOMO effect. In terms of investing, FOMO can lead people to make irrational decisions and, as a result, unnecessary losses.
