Just another pump and dump token.
I don't know why people still take such projects seriously. Most of them are just get rich quick schemes used by scammers to trick gullible newbies. The tokens are shitcoins with no intended purpose except scamming people.
Sadly still people getting into it. As I can see most of the projects are scams. Even they aren't skipping right after the initial sale. They are selling more tokens on exchange either Dex or Cex. Most project doesn't have any effective concept nowadays, it's just a game of becoming quick rich for scammers. Someday they will sell all the tokens and keep silent. That means a lot of people will lose funds.