A lot of it had to do with the irresponsibility of Elon Musk. He was pushing doge recklessly. This caused new investors to throw good money at bad projects with no use cases. He was a terrible stewart of the space and was very irresponsible with his power. His likeability is pretty low in the communities. With power, comes great responsibility.

Good projects that solve real problems will always rise up like elrond. Take a deep breath, zoom out and focus on how crypto is being adopted by more and more companies and people. Soon everything will run on the blockchain. The secret is too understand what projects will do to solve these.

Good question, just remember crypto is still in its infancy. Price isn't a good indicator of this, adoption number are growing and it just begun.