The FOMO is very strong right now.
As someone who lived through FOMO 2 previous time(huge spike in BTC price from MTGOT back in the day, 2018) I can tell you that I easily could have sold some of the coins I had at the top and have a few hundred K USD. I didn't do it because FOMO.
3rd time around I have been selling some things on the way up. These crazy prices won't last forever.
Dogecoin went up to 42 cents today briefly. A lot of people are going to lose a lot of money when the dust settles on some of these coins. It remains to be seen WHEN(SOON TM) that will happen. How much more buy pressure can there be on a memecoin you might ask? When will buy pressure let off and people sell to take their profits?
EVERYONE CANNOT make profit from selling. The key factor most people don't realize is that if everyone sells the price crashes big and a lot of people lose big.
The people who bought Doge Coin years ago for .001 USD are very happy and probably sold on the way up. For people who are millionaires right now you probably should sell(this is not financial advice). Risking a huge crash on a volatile meme coin because you want to go to the moon is a really bad mindset to have.
The people who bought on the way up are the ones who get dumped on by the people who bought before them. You starting to pick up what I am laying down here? People buying in at 42 cents which was the peak are only going to be able to make profit if some other people buy in and make the price go higher, extend this infintely. Not everyone can profit because at some point there isn't enough people willing to buy at a higher and higher price.
When Crash??? SOON(TM)!!! Idk, nobody knows. Probably tomorrow, probably NOW! Let's see!