That's about the only 'rational' explanation I can think of - but I suspect that's really small money overall - it's not people who can only afford to buy 50$ that will drive up the price ?
Or maybe the actual number is x10 - since we don't want to buy just 1 share, and the real minimum is 10 shares ?
Remember this McDonald's billboard saying "Hey Crypto Bros, we're hiring"? :)
Many individual investors are people who only have like 100-200 USD per month to invest through Robinhood. Or they do have some 401k plan where they get like $400 monthly.
Or maybe the actual number is x10 - since we don't want to buy just 1 share, and the real minimum is 10 shares ?