Most of these coins are meme coins to be precise, they have high value because most of them are community-driven. Resulting in the hype of those coins with the perception of high returns as they are less than $1. The idea that comes into the mind of an investor is to buy these dirt cheap coins in bulk quantity. Wait for the hype to trigger in by holding them for long-term gain, resulting in a high value of these shit coins. If you want you can check the community of meme coins like Shiba and Pepe, they are always shilling their coins to get a pump in the market value, resulting in small-term gain.

The other factor is whale manipulation which suddenly gives rise to a price hike. New investors want to ride the bandwagon and therefore invest when the price is high resulting in getting stuck into the coin unless they sell it or regain the same price point where they took a position.