I get it. Maybe all the interesting terms that start with 'smart' impressed me much. I am not invested in any alts personally, and yes, I ve seen this 'pooof' phenomena over the years. I shall no more speak of alts.
I have a topic I want to make about altcoins since some weeks ago or like 3 months ago but I have not made the topic yet. It was a life experience about what happened to me like 3, 4 years ago. The coin developers will use media including news to deceive people, you will invest in the coins but lose significantly.
There was one called Y Predict or so that I wasted my money on. The developers locked 50% of investors tokeo for a period of time all because they just want to scam. After I lost $7 from the $500 that I invested as I withdraw $250, my remaining $250 got to $23 before I was able to collect half of it again. What a huge loss.
Many of them are dumped almost immediately they started to trade.
About the top altcoins, they can also disappoint. Ethereum all time high in 2021 was $4891 but its price today is still less than $4000. It has not gotten to all time high. Polygon really disappointed people. Most of them like ADA and DOT are far from their all time high. Only few like Sol and BNB got to all time high but Sol is far below its all time high now which it got to few months ago with the Trump and Melania pump and dump tokens.
The meme coins and other coins let us know that altcoins are pumped and dumped in a way that they do not have limited supply. They do not have real investors but traders that will pump a coin today, another one is created tomorrow. They will dump the one created yesterday and pump the one created today and so on. Unlike bitcoin has has limited supply.