I've also come to realise that Fomo is part of the reason why some people invest on those shitcoins, maybe they've come across a possible hype about some certain coins and how well it may pump in the near future then rush into buying and holding it so as not to miss out on the profits in the near future
This is triggered mostly be influencers all over social media who for their own selfish interests promote even what they don't know, collect money and deceive their followers without even involving themselves in it on a personal level. I know how many influences hyped recent shitcoins mining on telegram and coerced people to believing that they're the future of money, built riches for themselves and left their followers empty handed.
It's bad enough influences are not charged when they promote products with detrimental effects on people, else the media would be more of a sanitized place. People especially newbies tend to be deceived by information from these influencers and it triggers FOMO in them and in turn they make grievous mistakes.
It's very much advisable to DYOR and not act blindly even when you see information from the most trusted source because at the end, you'll be fully responsible for your actions.
I wish there's more ways to increase the media visibility of investment in Bitcoin for a long term so more people can be guided properly.