Efficient Market Hypothesis and Dogecoin

hi guys. Lots of hype this week about Dogecoin, Elon, and SNL. I am usually much more risk averse with my portfolio but actually traded a shit load of Dogecoin over the past couple weeks.

What I found interesting is the announcement that Elon would be on SNL was available two weeks before the public really figured it out and wasnt fully priced in until mid last last week. This make me realize that Dogecoin (and cryptos in general) might be one of the few markets that are really operating under “weak form market efficiency”. Compared to Equity markets that are operating under Semi-strong form efficiency -that current stock prices adjust rapidly to the release of all new public information (and that theoretically only luck or insider info can produce above average returns).

Point being is that the majority of trade volume on doge may actually be by slow (and irrational haha) investors. The crypto market in general has been, until recently, ignored by institutions. This should be a gold mine for hedge funds and any sofisticated traders. Anyone else thinking about this?

Opening up the topic for debate!