Even non-newbies do like this and have mentally like this. And what's the result? Same thing. Well, few got the luck, got sold before the dump happens. Well, yeah, it's a get rich quick scheme for those lucky who got their self before the dump. Because of this, they will try again to another coin, then boom, get burned. I've read stories like this. Become rich overnight, due to greed, turns out to have debt after chasing losses.
I read a story of someone whom they refer to as a "one-time view millionaire" (like the WhatsApp feature where you are sent a file that you can only view once). The person in question was lucky to be part of an early investor who happened to run into some of this SOL project during the time when the hype was strong. He saw his capital run from $100+ (which he invested) to more than half a million dollars calculated by his local currency. He was a millionaire, looking for the possible way to swap the coin and not having enough SOL left in his wallet before they could raise the gas fee. Everything had been drained down, leaving the token with no liquidity and trading volume.