I think this is the biggest problem that crypto space has at the moment. People treat like a stock market, which it is not, or at least it's not what the intention was.
It is very natural for people to see complete bozos earning hundreds of thousands of dollars on Bitcoin trading in the early days and just imitate it in many different ways. These are very much like good old Ponzi Schemes, where the intention is to inflate the value, cash out and then who care what happens.
At some point such coins will very likely collapse as in the case of Dogecoin and many, many other similar tokens. Many people will get hurt, many people will get rich.
However, that doesn't mean that the whole industry will go down. The event described above will remove all the people who are in it just for the quick buck and only those who believe in the blockchain and relating technologies will remain.