I think they have played pump and dump with that coin. Big whale investors can play this trade because they have the budget. It's good if you have bought this coin and when it reached the peak you should have made an exit already. But if you don't sell then your money will just be eaten up.
To me this mind of coin as no project or purpose to why you should buy... they are just rugpull coins with no potential... That's why is always necessary for investors and traders to always dyor...
That is right. We should be very careful in investing in cryptocurrency. It's because some of the coins are created to seduce you to invest but it will be taken away by the whales.
I think that generally if a smaller altcoin has such a large fall in its price then it is unlikely to recover and at times like this it may be best to cut your losses and move to another coin where you can make up for this loss.
You're absolutely right except the one knows the reason why the coin are to drop drastically and if there is chance of it recovering very fast otherwise you stop loss and move to other coin just as you said.
That is one of the reason that I don't invest in all this new token. They will rise very speedy but I just a blink of an eye the price will fall to the lowest level
If a new token is having a serious bullish in the market in a short Intervals ,it is better to trade off earlier or you don't Invest when the price is already high to avoid losses.