There's defintely something of a bubble going on now. I think this is driven by people realizing "wow these things ARE real" and they aren't sure which ones will last and which one won't.

People saw the insane gains earned by bitcoin and ethereum, plus a few other coins, and they figure "you can put in a thousand and turn it into a million." Get enough people doing that, and hey, bubble.

I'll consider the bubble over once dogecoin - a joke currency that doesn't really have much to offer and had all kinds of issues - reverts back to its historical lows.

http://coinmarketcap.com/currencies/dogecoin/