-cut-
This coins are often created as a joke and with no intrinsic value and utility, but if spotted out in time, can deliver massive returns to the investors. For example, memecoins like Shiba Inu, floki inu, toshi etc. From my research these memecoins have delivered massive returns within a short period of time.
"if spotted out in time" is pretty much where the problem is. And it's way more harder then most people think.
There are probably over 5000 tokens launched each day, and i am not even trying to count how many of them will make you lose your investment. Because let's face it, i would bet on losing every time. So picking one winner gets harder and harder every year. And if you are trying to pick one, you are losing money. Even if we would use our time to weed out 100 of the likely winners per day, you can count how much money that's burning.