I understand it's a pump (and dump?) like never experienced before, with the exception of GME but we have also never experienced an influx of new retail investors with plenty of free time (covid) and some cash to spare (stimulus check).
We also live at a time of financial gurus, drop shipping "gods" selling their courses and a pop culture pushing younger people towards the quick buck mentality.
I am not a crypto specialist and probably have half the understanding of most people here but I think that most young and new investors buying DOGE at ATH will eventually be bagholders.
We also live in a meme culture where people spend 600K on a mem nft, yolo money on penny stocks etc.
One thing that has not changed in centuries is that the majority of humans will be losers and the winners will be very very few.