Quote from: Handsome Boy on Today at 12:49:24 PM

Quote from: zeingrind777 on January 29, 2021, 04:35:51 AM

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?

people will definitely believe in famous people, so tweets from WSB Chairman and Elon Musk had a positive impact for the price of DOGE to increase very high and of course it's has been a long time since DOGE prices have not increase very high like yesterday, so that it provides a lot of profit for people who have invested and HOLD DOGE for a long time.

That's how exactly how big the impact is when a famous person use a cryptocurrency and endorsed it. Some just only using a #name of crypto in their twitts or in any of their social media accounts. People do trust to the things that a famous person like Elon Musk endorse because they are thinking that Elon Musk wouldn't endorse such thing if he haven't tried, tested and proven. And that is also why DOGE were at high price and hype as in a binance.