Looks to me like we’re in a classic period of: “When your neighbor and the lady in the local grocery store tell you about a stock....”

I had my brother in law which has 0 knowledge of crypto call me the other day completely hyped with FOMO shouting: “Dude we have to buy tons of DOGE NOW! before it blows up, I want to get rich, all my friends bought it too” - he’s 40 yo with 3 kids, not some youngster. He doesn’t even know what it is, doesn’t understand the difference between an inflationary & deflationary coin, just heard it’s “the next big thing”. He was throwing silly statements like: “In 4-5 years when DOGE reaches Bitcoins price I’l be picking you up with my lambo” “Why would you buy Bitcoin it’s already too high, doge is still cheap and there’s a chance to get rich” (said on 0.4 price) Needles to say he wants to buy just 5K DOGE, no amount that even if DOGE quadruples, e.g to 2$, won’t make him nor his friends rich.

I tried to explain him what does it mean if DOGE will reach Bitcoins price in terms of market cap, and how theoretically it’s not so likely to happen, but he didn’t seem to care.

I’m personally not yet invested in DOGE, and I’m not against it at all, but to me it just indicated how many weak-hand-get-rich-quick type of people are rushing to the market now, especially to buy DOGE.