in my opinion, it is a tough task to find a new altcoin to invest in. I consider it high risk to invest in new altcoin (s). However, there are things I will look out for in a potential new altcoin: Team members reputation and experience in similar projects, success and status; Purpose/aim of establishing the token/coin; Token utility; Future relevance in the crypto space; Technology behind the token; Listed exchanges or anticipated listing dates; Partnerships, etc. I will look out for the above mentioned attributes if I have to invest/hold a new altcoin. I will advice that for long term, only hold Bitcoin, Ethereum or older altcoins. Avoid holding new altcoins (meme coins included) for long term and only hold what you can afford to loose.
Yes, the chances of losing money from new projects are very high these days. When a new project is launched many times considering the overall aspect of the coin it seems that the coin is good but later the coins are not successful. But not all, two-a project will be a good success if you can analyze well with experience, then you can invest in new projects. I like bitcoin and ethereum coins for long term holding but there are still many top tier old coins that didn't react even during bitcoin's peak. But I think there are some top level coins like Solana, BNB which could be good investment in the upcoming Bullran.