Everyone know this that they should only invest that money which they can afford to lose but in practiice only few people follow this practice.
That's because they are greedy. People become crazy to put all their money in crypto after they succeed to take profits at the first attempt. But then, they regret it since there is a huge correction after a big pump. It happens in most altcoins, especially those meme coins. Doge and SHIB ever skyrocketed, people think investing money in these coins is safe enough with support from Elon Musk. But finally, they lost their money after the hype of these coins are over. From these phenomena, we must learn that no coins safe enough to invest with all our money.
These incidents are becoming more and more popular, with the founding of the Binance Smart Chain, where everyone can simply create a coin, with little effort. Especially after the hype with Doge and Shiba, the cryptocurrency scene was flooded with newbies that thought it's a get rich quick scheme, only to be proved wrong, shortly after. I even have acquaintances and friends of mine ask for advice, after purchasing some crap coins no one knows about, without any kind of research before proceeding.