Could tell me why is there such difference in the price?

Because .me is a country code top level domain (Montenegro) and they determine the price.

I beleive that is caused by demand and popoolarity. All know about.com and there a might be people which never heard of .ME

Because you can add your company name with .me and brand it like for example "google.me"

Because it's been so overhyped?

Yea, any domain name get such hype during their launching.

.me is not what most people think it is. I first thought it was a new trendy domain extension for ego-centric people that wanted a domain like myname.me. It turns out that .me is for a country but most people that are buying it are the ego-centrics.

It costs more because it is for a specific country.

I wonder if there are any other country domain extensions that can be exploited for other uses?

.me is a rip. I tried to purchase one on landrush from godaddy. I was told that I had the domain and then I was told it went to auciton. Regardless, Godaddy took $200 and wanted another 8000$ for me to bid on the domain. Its all hype. I would take a 3 word .com over a 1 word .me anyday

.me is cheap in comparison with .nr available for 500 $ or .ki for 1,000 AUD / year ( and many others )

I never really thought about that at all......I wonder how many have done that in the past before the prices changed over to what they are now??

I thought .me domains where for personal blogs and websites, hence the "me" part of it.

Which is incorrect as I have already stated.
.me is a country level domain name.

My view exactly

It's a contry level domain. That's the reason.

Well this is interesting. I also thought it was for blog or personal things. So if it's a country level is it the same as when you want a Spanish site to pop up you just add the .mx? Or is that different?