That is why I don't trust hype created coin and I really do a rigid and deep research first before investing my fund to it. I made sure that I will not fall into a pump and dump or rug pull token.
Projects created on the basis of hype are indeed very risky. Those behind the coin took advantage of the current state of affairs. I don't think it's just this coin, but I see a lot of people who lose their money when it appears on the hype coins and they invest.
The problem is, it keeps repeating itself and some of them are still doing the same thing.