Musk and tesla
You said it right, that's few words but that's actually one fo the big reason why the market is so hyped this bull run.
Musk continues to shill his favorite coin which is the DOGECOIN, and it made people follow which we called the FOMO, and we know what would happen soon.
I agree that crypto market is too hyped right now and the core reason for that must be Elon Musk and dogecoins. But, I guess it is still happening in preferable manner. Elon Musk invites new investors through social media and those new people will definitely invest in dogecoins and in other altcoins and more importantly will consider investing with bitcoin as well just for the reason of diversification. So, the on-going hype is good and we should welcome it.
I could spot the FOMO around dogecoins which is something we cannot do anything about that. It will happen for bitcoins as well in coming months which again help all cryptos and not just dogecoins nor bitcoins alone. So, we need to bear just as part of every markets.