I used to be spread too thin when I began last year. This year I consolidated my portfolio into 2 sections: tokens I cared about and those I thought were OK.
The tokens I cared about are those where I staked a lot or are those I want to HODL.
For the tokens I thought were OK, I put them to work in various ways in order to support those I cared about. A few were delegated to accounts which offered some sort of passive income. Some were put into liquidity pools which let me recycle LP rewards into them so I could earn more LP rewards. Then there is DeFi.
At the core I buy to HODL. Around that core I buy and trade as needed to support the core where I HODL.
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I always tried to keep my portfolio small so that I could understand them better. Too many tokens out there to do any research on.
I try to get tokens that have some form of utility instead of just HODLing. Hopefully the utility translates to longevity and people keep using and buying them.