Not all projects are suitable HODL.
I am agreed on this part that holding for all projects is not suitable, many a project can turn into scam and also many project might be delisted and for the delisting the price of the coin can be down and even the price of the coin can be 0.
Few have a better chance, while most will surely turned into a dead project, dev will enjoy with amounts that they already collected and re create another
using different teams and offer another sort of ideas, always best to make a good research about projects to support and hold for longer terms.
But in case you are in the middle of holding and you just realize that your money is just getting smaller and smaller each day, and when it's almost equal to nothing, will you still sell it (knowing that you're only gonna get a little but sure amount) or continue holding in return to the chance of getting good amounts when it miraculously pumps?