FOMO is a new project on the SUI chain that uses computers for mining that Jiaoyang recommended a few days ago (you can look up the article on October 4). Friends who participated in the early stage should have had a few pig trotter meals. Jiaoyang’s previous advice to everyone was to mine and sell at the same time. Looking back now, the strategy was correct. During this period, FOMO was under great selling pressure due to the mining, withdrawal and selling operations of many miners. So far, the decline has exceeded 90%.

However, our strategy changes with the market. In the current situation where the coin price is greatly underestimated, it is the right thing to do to boldly hoard coins. The SUI we obtained from mining and selling before can now get dozens of times the FOMO chips. If you are optimistic about FOMO, now is indeed a rare opportunity to enter the market. Many MEME projects will experience a long period of decline and wash before they succeed, and finally soar after the chips are concentrated, such as SHIB, babydog, etc. Who knows if FOMO will be the next one?

Why am I optimistic about FOMO? There are mainly the following reasons.

Grayscale is optimistic about SUI

On August 7, Grayscale announced the launch of two new trust funds, Grayscale Sui Trust and Grayscale Bittensor Trust. Grayscale Sui Trust will only invest in SUI, the native token of the Sui network. This is the second time that Grayscale has chosen to launch a special investment product around a single Layer1 after popular Layer1s such as Bitcoin, Ethereum, Solana, and Filecoin.

After Grayscale announced its support for the SUI chain, the price of SUI has risen sharply, more than three times in less than two months, and recently broke through the key position of 2U. Many people are optimistic that SUI will become another layer of public chain after SOL to challenge the low position of Ethereum.

FOMO is the POW-like MEME of SUI chain

The current environment is that everyone tends to play MEME and completely abandons VC coins. The MEME concept is still the main battlefield for current currency players, forming a blood-sucking market for VC coins. At present, most MEME tokens are issued directly. FOMO has chosen a more innovative POW method. All players, including founders, must obtain tokens through computing power calculations, which is also a fairer way of issuance. FOMO chose to release on the SUI chain, and to a certain extent, it will benefit from the popularity of the SUI chain and gain more support from users and resources. The founder of the SUI chain has also interacted with the official Twitter of FOMO on Twitter.

FOMO has upside potential

At present, the overall market value of FOMO is still relatively low, about 820,000 US dollars, less than one million US dollars. Compared with other MEME projects on the chain that are worth tens of millions or hundreds of millions of US dollars, FOMO still has great potential. At present, the mining progress of FOMO has reached 50%. After all is completed, there is less pressure to sell, and the potential for growth is great.

Judging from the coin holding addresses, there are now more than 40,000 coin holding addresses, which is considered good in MEME. If it continues to increase in the future, it is possible that it will be noticed by major exchanges.

For specific on-chain information, you can check it yourself on the chain through the contract address: 0xa340e3db1332c21f20f5c08bef0fa459e733575f9a7e2f5faca64f72cd5a54f2::fomo::FOMO

Of course, we still have to remind you of the risks. All MEME projects have no practical application value, and most MEME projects will end up in zero. If you don’t have the psychological tolerance, please stay away from MEME concept currencies. All the above analysis does not represent investment advice, remember.