Every buy is also a sell. Many shares are bought and then sold with no intention of holding. Others are shorted and soon covered. Some shares may be held overnight in a position that may be held only a few days for speculation.
The number of shares bought for long term investment may be relatively few. Long term holders may not be participating much in the day to day volume.
The point is that it's a "hot potato" that people only want to own as long as it's going up. And that makes it a foolish stock to invest in for those who let their investment positions run without watching them, or playing any kind of defense.