We have already 1,800+ currencies today so there are more still to come so I don't think investors are going to invest on higher priced currencies and Top Altcoins. That's why more investors today that invested into more proven more effective coins than newer coins.
I used to believe that to be true. But I think we can agree (or okay I will agree) that yes, newcomers and new investors will always buy a recognized coin, simply because it is easier to buy and that was the coin they heard about and can find most resources on. But as they stay and learn more, they naturally want to also be an early comer for a new coin. To make the moon on their own or whatever fancy way of putting it they wish.
And the proof is every day here. People are asking about some random coin I never heard of. People are owning 100ks of Verge, things like that. So newer coins also benefit from new money, that is for sure.