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?
A currency which was built as a joke then growed into a community and now it's all around the gossips because the prices have grown more than 700% which is quite shocking.But this came shortly after the tweets of Musk and then people started pumping their funds from other coins and shifted the momentum towards Dogecoin rally.Thats what happened when you have millions of active followers who blindly trust whatever you told them which is why Musk is exercising such market manipulation techniques to rise the prices for his own benefit as he is one of the potential investors.