If someone has launched something similar to your project or token, think of what makes your project better than them. Don't be discouraged to stop because it's your project, thinking of a concept isn't an easy thing and if you do have a real business and you want to support it by that token so what's the reason that you should stop because there are some that are first to you? if I were you I'll do this.
Go forward. Be confident. Truth and perseverance will prevail.
But if you know to yourself that your project doesn't have any future plans and you don't have any realistic goals, just stop.
This thing should really be done on which if you really have the idea then better to fight on it as long you do know that you can make it even more better than to those on people who did able to copy your idea.This kind of situation do really give an odd feeling when someone did took on the thing you should tend to make but this thing actually depend on how you would further develop.Just create another one and don't mind on the copy-cat just be sure that you can do better than on that one.