it baffles me how many crypto traders feel superior to shitcoin traders simply because they hold L1 projects (i.e., avalanche, bnb, ethereum, etc.) but they seem to forget that these projects simply exist for the benefit of creating shitcoins. Look at the top trending alts in dextools, 90% of the time they are just short-lived pump and dump tokens
In fact, many of the L1 project owners invest in these shitcoins. Do you remember how avalanche team gave grants to the likes of penguin finance and yay games, which both have been dumped to death? These smart contract blockchains need new shitcoins to exist, because otherwise they would have no use case in the first place. Even the point of DEX is to pump and dump shitcoins just like the point of yield farming tokens is for stablecoin hodlers to farm and dump those same tokens.