We have had several hyped coins and token lately and many have been a victim of hyped projects that ended up crashing in not long after attaining a very little profit margin. Been extremely careful with how we go about our analysis will help save a lot.
I think you are talking about the recent SQUID token which was a solid rug pull. The developers created this token with statistics such that users could not sell it at the right time.
Most of the people lost all their money buying this token. It feels bad when people lose all their money in such scams.
Just wondering why developers would come up with nice projects only to crash after a short while keeping investors in losses.
It's obvious, just to make money. They don't care if their token has a utility or not because all they want is to grab some cash.
This is why they say, always DYOR before you invest your money in anything.