I once hold a coin and suddenly the coin that is almost $1 dump to less than $0.01 to me I move on but to some people which are newbies this can discourage them from participating in crytocurrency and make them conclude it is fraud and that brought me to a question how do you think pump and dump group are damaging crypto-currency and it's reputation??
It all depends on the volume of trading of a particular coin on the market. And not always such a fall can speak for that it is a shitcoin, if almost the entire market is in correction. One bad thing is that there are a lot of hamsters in the market who create such situations and discourage others.