One of the main reasons why we have lots of altcoin out there is the fact that scammers are trying to capitalize on the fact lots of new people joining crypto do fall easily for them, majority of the altcoins in the market has no future plans, most especially the meme and lending coins, so its no surprise seeing them being rampant
I believe I said this before in this discussion or one on the site. I think a lot of new investors could get burnt with the GME/AMC/DOGE boom.
I hope they find cool projects like Black Eye Galaxy to invest in. I am excited about this as I have always wanted to own a planet and now is my chance. Also being able to get returns is massive!