Why is that when a promotional video or a tweet by popular individuals regarding a particular crypto are published, people go panic buying pushing the price up and become part of the reason for a pump and dump?
Elon Musk just tweeted about DOGE coin I guess we might see another phase FOMO coming in for DOGE coin. You can check out the tweet
here. DOGE is already up by 14% after that tweet lol.
It's a psychological thing I guess whenever someone with millions of followers says something about some product then their fans instantly wanna go try that thing. Makes them feel like a celeb??
Not only celebrities, popular figures in business or the rich world, they are like arrows, where they lead then that's where the market will go. so whatever they say will affect the market.