In 2018 there was a hype and people started to earn money by creating useless coins, for example people started to gather money for some goods. Coins had zero value from the beginning, because on that time cryptocurrencie world, was mostly a kickstarter. Thats why there are tons of dead coins and only few have a value.
Agree, I will be fixed that cryptocurrency prices are depends on hype. Whatever coin that was created as long as the market sentiment for cryptocurrency is good it means the market going to bull run then the coin will have a high price shortly. In that situation the investor will never look any kind of project, they just put the money depend on the news that spread or depend on promotion that beinf held by the project then it will give a good effect for the project. We can see from bounty hunter income at that time, I was heard that there is bounty hunter who got $50.000 from bounty campaign. But it didn't take a long time before the crash came and destroy the useless project that didn't have any function for the investor. But we can see the project who survive until this time because the project has the real function for the investor.