Today I saw the price of DOGE very high on the Binance exchange, I immediately sold all the DOGE that I have. After I found out why the DOGE price hike was due to tweets from WSB Chairman and Elon Musk. I wonder. Why do famous people's tweets have such an effect on the price of an asset?
because people who have the ability of that much can affect the price. examples such as clothing trends and electronics we just follow, this is life
Popular people usually considered by people as trustworthy since they already have their own image, same thing in crypto, it was mcAfee who always attract people attention, he could even turn an unknown project into a well recognized and popular project however his image doesn't last long IMO, then it's Elon Musk except elon didn't really try to pursue people to buy crypto.
Maybe in a decade we gonna see someone popular peolpe that could heavily influence again other than Elon.