This indicates the extreme greed of investors who invest in coins without real projects or well-known teams, all for the sake of quick riches driven by the hype of these coins generated by their communities.
The greed around this circle is going to be unparalleled. Not even the 2017/18 market circle can equate it. The level got to over 80% last week. As I type this, it's down to 77% and I know expectedly that it will push up as days draw near to halving.
Investors are cashing in on this opportunity and based on that scam developers are steadily going to the market with hype for their shit tokens. It's almost a given that any hyped project that lists now will definitely turn in a great ROI. Memes are now the order of the day as many see them as an easy way to flip their accounts. With all these going on, newbies should be careful not to buy into hyped projects without utility except they know how to swim in muddied water.