I think supply doesn’t matter for a good project which they have larger investors community. For a meme coin there is billions supply so that's why there gone to death quickly. But low supply good support for price rising. Even if they have million investors planal then supply not matter for price.
Supply of coins matter independent of how large or small the community is, how do you think the coin will improve in price when the demand remain the same or lower while the coin keep saturating the entire market, the project will die in a blink of an eye, even this memes like Shiba and Pepe are all cap to maintain a maximum supply and become deflationary when holders send the coins from one wallet to another and I also think Maximum supply, Initial supply and circulating supply all exists for this reason, if you have an altcoin projects project without puting this in place, the project will die and will lack volume because traders wouldn't come close to your projects.