So saw many self airdrops of ERC20 tokens and wave platforms in social media. They would promise their investors a cheap token price purchase, and in turn promise a good listing price at the exchange. 98% of these self airdrop never make it to exchange, and the few that get listed in a decentralized exchange get pumped for 2hrs and there after dumped forever. Why do you think people still patronize these scamming project and not study good ICOs and buy?
Because they all are chasing what I call "the next shiny object".By the way, you shouldn`t generalize that much.There are smart investors,who do their research and buy tokens from the legit ICOs.Most of the stupid investors just buy $20 token shares here and there and expect some token to be the big winner for them and skyrocket it`s price by 1000%.