Volatility in "meme" coins is much higher than volatility in ordinary coins such as Bitcoin and Ethereum. People need to be properly educated about crypto to avoid many undesired situations in the long run. With regulators weighing in, the crypto market will be a much safer place. Beware of the many "meme" coin scams out there. Not all that glitters is Gold, right?
I would put PEPE alongside DOGE, but you are right - many people don't see the risks ahead of them and choose memes to get a profit fast, thus ensuring their bad time spent on the market.
Lessons should be learned after trading sessions like that.