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?
DOGE is a relatively small market. It may have started as a joke but it is the fork of a litecoin fork. There is nothing special to it besides it starting as a joke and growing a big community that as a result of this will keep growing. Was honestly expecting the DOGE price to go all the way back to like 1 Cent but not so sure any more. If more people like the coin and just keep buying it why would it not stay at a higher price.