TL;DR

• An investor spent $916,000 on a Trump-related meme coin (RTR) driven by FOMO, only to lose almost everything when the coin’s value crashed shortly after.
• While some traders incur losses due to FOMO, others who enter the market at the right time can make substantial gains. However, the meme coin market remains highly dangerous and investors should be extra cautious when diving in.

The FOMO Effect

Meme coins have been among the highlights in the crypto space in the past several months, with many witnessing explosive price increases in a short period of time. However, their volatile nature makes them quite unpredictable, meaning traders can be caught off guard and lose significant sums. 

Such was the case with one investor who recently spent 5,800 SOL (approximately $916,000) to purchase 7.2 million RTR. Restore the Republic (RTR) is a Donald Trump-related meme coin whose valuation skyrocketed several hours ago but plummeted just as substantially shortly after. 

Initially, it was thought to have some connection to Trump’s son, who published a cryptic post on X. On the other hand, he warned users of “fake tokens” that have rammed the space, saying the only official Trump project has not been announced yet.

Amidst the speculati