Many altcoins are dumping ground, after the project is launched people invest massively on it, they will carry out a burn and the burn will have no meaningful bulls and then àfter a while the project became dormant like one and only Africa project called "wakanda" I guess many are victims and aware of this falsehood and fake project.
Not only "Wakanda", there are lots of altcoins that just rely on the hype out there that keeps being born every day. Instead of thinking of it as an investment, I prefer to call it a gamble, because usually the strength of degen tokens is just the hype, there are no other strengths other than that. My advice, you better look for trustworthy altcoins for at least they have real proven advantages, like L1 projects (Aptos, SUI and Oasis Network).