On $ZAPP and chasing the bottom

It's always interesting to watch these high-volatility plays like $ZAPP today, down nearly 46% at the moment, sitting around $0.1548. I see a lot of folks on other platforms trying to catch a falling knife, shouting about reversals or finding a bottom, especially after such a dramatic drop from its high of $0.22 earlier. Personally, my take has always been that there's a strong argument for just letting these things settle. The allure of a quick bounce is powerful, but often you're just buying into further dilution or the unwind of stale longs. We saw a bit of that with $XLE yesterday, not nearly as dramatic, but that little dip to $63.555 and subsequent bounce from $63.64 didn't necessarily signal a strong conviction reversal. Maybe I'm just too conservative, but the temptation to jump into something plummeting rarely pays off unless you have some serious edge or insider info. What are your thoughts? Am I missing something in these kinds of plays, or is the 'buy the dip' mantra sometimes just a path to more pain?