The ONE thing DOGE has going for it is unit bias. I doubt there is really anyone out there who ever thinks it's going to moon. But, it could go up and down between 10 cents and 60 cents over and over again for years. If it actually develops into something that could be used for payments, I think a lot of the younger generation will use it. It's one thing when you buy something for $50k and it goes to $30k. Everyone thinks the sky is falling. But if you buy something for 50 cents and it goes to 30 cents? Meh. Who cares? It will go back up. It's only down 20 cents....
Percentages are exactly the same but the unit bias allows people to casually brush it off. That and the fact that they'll only put a couple hundred bucks or less in it so...they don't win or lose much either way. And if they can actually use it to go to the movies? So much the better.
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Well said. I didn't know much about unit bias until I got into crypto but that's a very accurate description of how it takes place around here.
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