Do cherry angiomas fade on their own in young people?

No.
Some scholars believe that cherry hemangiomas may be related to ageing and genetic mutations, and that not only do they not fade away on their own, but that they gradually increase in number and diameter with age.
However, most cherry angiomas do not cause any conscious symptoms and only appear as small red papules or nodules on the skin. They do not affect the patient’s health and, apart from the aesthetic impact of cherry angiomas on exposed areas, they generally do not affect the patient’s quality of life, so most cherry angiomas do not require treatment.