I guess you need to do your own research to avoid jumping on a hyped project that doesn't have long-term potential, this is very important to do in other to protect your investment in the long run., there is no doubt some projects have gained hype lately and even as there is so much potential to earn a good return on investment, it's very important to do a deep due diligence to escape bad projects, e.g some of the meme coins.
You're absolutely right. Conducting thorough research and due diligence is crucial before investing in any project, especially in the cryptocurrency space. It's essential to understand the fundamentals of a project, its technology, team, community support, potential use cases, and long-term viability.
Hype and market sentiment can sometimes lead to irrational investment decisions, particularly with meme coins or projects that gain sudden attention. While these projects can offer potential short-term gains, they often come with high risks and volatility. Many meme coins lack substance or a solid foundation, making them susceptible to rapid price fluctuations and potential loss of value.