The price is dumping so hard and i see that so many of these shit coin hodlers are feeling panic after a big dump that happened with it. It seems like the whale who has been pumping this shit coin already cash out his profit from pumping this token. I will not be surprised that if this will become another shitty project as soon as whale will be leaving from the market. The dump is still continuing at this moment.
Sometimes, I wonder why people are tempted to invest in a project that does not relate to something but uses the "name" of something popular like what @OP stated.
I would like to call those who have been buying the garbage tokens like this as gamble rather than invest. I have some conversations with some shit token buyers and they were saying if they wanna get tich by spending small amounts of money and multiple it through shitcoin. Basically, they are gamblers and not investors who think about the fundamental of the project.
Indeed. Real investors will not easily invest in a project they do not know for details and will not gamble for big money if they are not sure. Those people want to make fast money by investing in that project but they do not know the risk so they think that it is okay if they lose for little money. If they still do that again, I think they will not profit but will get another loss. The token @OP mention is down and does not know if it can increase back or will still go down.
Sometimes, I wonder why people are tempted to invest in a project that does not relate to something but uses the "name" of something popular like what @OP stated. It is very risky if he thinks that the project will gain attraction from the investors, although the number of the investors is increasing because that is not proved that the project can give you profit in the future. Maybe you need to give time for the project before you invest to see if it is good or does not have to think to invest in it.
I think the explanation is very simple. They are driven simply by greed and / or stupidity. Probably most of those who invest in such projects are people who are just starting their adventure with cryptocurrencies and have heard, for example, about the success of SHIBA INU in recent months. They think a project with a famous name will copy success. However, they do not realize who and why created such a project. Most often, of course, they lose money.
Sometimes, I think the same as you. That is because of greed and wanting to make money in a short time. But we can not force them to stay away from that project, especially if they already made a big profit before because they want to repeat what they got and back to make a big profit again. Shiba Inu is a perfect example for those people and that is why they will always want to invest in a project like that. We can let them decide what they want to do.