I'm always fascinated by the psychology of groupthink in markets, and watching it play out is quite profound.
In microcap stocks people huddle together in their little communities, reassuring each other that their particular plaything is the next big thing to take over the world. What they don't realise is that they are the only ones buying! The price keeps rising and that makes people more confident that they are right so they just keep buying more.
Eventually the price gets stratospheric and there is no one left to buy. Anyone with a different view is called a heretic, downramper, troll, time waster, jealous, etc. "Burn him at the stake! He's not a believer!" Any price fall is just a "tree shake", "manipulation", "irrational", "buying opportunity", "time to load up"......
I think we are at that point now with 3DP. The price has lost touch with reality. It is levitating.
3DP Price at posting:
47.0¢ Sentiment: Sell Disclosure: Not Held
