Panic selling is the worse thing someone could do out of impulsiveness and emotions. They might sell their assets with a price lower than its buying price just so they can avoid much worse situations without doing some critical thinking. They tend to lost sight of the bigger picture and massive impact of their actions. It's much worse because his action won't just affect him but he will contribute to the market's movement in general. So, of all things, when people are trading tbey should also train theirselves not to be easily driven by their emotions, because emotion is of all things the most destructive in any ways, patience, practicality and calmness should always win over emotions.
I still maintain my stand like some of my mates here too that it is not all a panic sell that is bad. There are time when I do risk to trade some of these shitcoins, and having known that it is a 50:50 chance, I have to be very much alert, I could think that the whales will pump the value after it gets listed on exchange and reverse will be the case.
There are situations where I had bought some shitcoins with the hope of it getting being pumped so I can quickly exit, but the moment I hoped for that was when we had some investors pull out and the price started crashing, the only way to do damage control was to panic sell, even if I had to lose some of the money, but i never lost all, and till date, that coin never rose again, if I had not sold then, how would I not have lost everything completely. The only time panic sell is not good is when you are trading reliable coins.