It's hard to predict which out of thousands of alts will go up, but what you can predict is that once a coin went up, it's bound to go down. Like, take the best performing coin right now, Dogecoin, there's absolutely no justification for its price, it has no adoption or promising features, it's pure hype. It's bound to go down, so if you carefully short it with small leverage, you're going to make profit. Obviously, the danger is in the known trading wisdom - "the market can stay irrational longer than you can remain solvent", but still the fact that pumped coins will go down is something that you can rely on.
People who buy dogecoin because of fomo deserve what ever happen to them, many early adopter have said that more then 50% of dogecoin held by only less then 30 person. And doge coin used just for pump and dump has been happen many years ago. About shorting alt with laveraged ? Its not good sugestion because laveraged will rekt you faster especialy we are not going down yet.
The issue is not really with the rich list being held by a small number of people. This is an old coin and there is a large percentage of people who probably lost the private key because its was low value for such a long time.
The biggest issue is the huge miner supply coming in everyday. At these currently prices there needs to be $500,000,000 of buys to equal the amount of newly minted coins every month. And this doesn't include the amount of sellers which bought at $0.01-$0.10 who want to take profit at $0.50 or $1.00.
Its basically not a question of if but when will it go back down.