What happened to small Cryptos?

I've noticed that in recent months, the prices of many smaller cryptocurrencies have taken a significant dive. What are the main factors contributing to this trend? Are investors shifting their focus to larger, more established coins? Or is it a result of regulatory pressures? Additionally, what do you think are the implications for these smaller projects in the long run? Will they be able to rebound, or is this the beginning of a more permanent decline? As a professional in the field, I'd like to gain a deeper understanding of the dynamics affecting the market for smaller cryptocurrencies.