Not to mention you don't have to be a whale to have this mentality.

During bull markets FOMO is the name of the game and Monero has the reputation of being "not like the other alts" which puts it further outside the FOMO bubble investing mindset. People want to make a quick buck, that's human nature. No one wants to put money into a relatively stable asset (for crypto anyway) when that quick easy profit is staring them in the face elsewhere.

Monero's reputation is great for the real world and long term. But it doesn't exactly scream FOMO during a bull market where anything and everything is pumping.