I don’t think just because of Bitcoin, most probably new tokens are here to replicate other project and either to scam people here or to really compete with those altcoins, that’s the only purpose they came here in cryptomarket. We should be able to see their difference and invest only with the good projects.
new altcoin will have same idea with previous coin and it repeatly happen till many investors realize this is fake project that will take their money.easinest creating token now be feature that provide by smart contract platform and unfortunately it bring new negative concequence to cryptomarket.
Well each coin has its purpose why they created either it will use or it is pure hype. Dogecoin was created as an alternative to high transaction fee coin and also this is a memecoin that was hyped much during that time.
its only fun project which its creator and even dev team never think doge will survive and even have current price. but now doge used to reduce transaction fee and alot traders convert their coins to doge while sending to another wallet