That's the thing. The only people gaining are the people that initiated the pumps. They're smart. As soon the shit coin goes up buy 10-20% they sell to people buying after the 10-20% up. Anyone who buys after that is stuck with those coins because no one is going to buy a shit coin that is up that much. They end up selling at a huge lost (sometimes 70-90% lost). It's a scam that works well for people who organize pump and dumps.
The FOMOs are trying to get rich overnight, but ended up loosing everything. I wish people get it that only
trading / investing in Bitcoin will bring you profit. Only
BTC's price fluctuate to the point where you can make nice profit trading with even $500. It's going to take a while to build up the profit, but it's almost always a sure thing.
This is the big problem in crypto society right now as there are plenty of groups around there that are doing this kind of technique. They are very good in pumping and once they get the buy orders, they will just dump it easily and the victims will lost their money.
It should be address to the newbies, as most of the victims in this kind of technique are them especially that most of the newbies didn't know this kind of happenings "Pump and Dump".