Now, it is up to us to be able to figure out the fake projects when we are looking for what to invest in. When you are investing your money in a project, if you are not sure of what you’re investing in, then it’s best that you leave it, and look for other projects, because there are many of them.
Doing your own research is best, however you need to know how to do your research, if someone new does it without knowing proper data to check then they may end up losing a lot of money. So best case is learn how to do research properly, and meanwhile check the famous people and what they back and why, after a while you will be able to do it on your own without the need of any other famous influencer or anyone else and find things yourself.
If you follow a very known person and they promote something, that usually means the project may go up because of how many followers they have. However when they publish a video, or tweet something about it, then it means it is way too late for putting money in, you gotta do it beforehand but how could you know?