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?
Famous people like Elon Musk is holding a huge amount of this coin, basically this what's affects the price because people find an assurance based on how popular Elon was. Fortunately, the latest news I had read everytime Elon got a statements which positive coming from him, it creates more interesting stories and demand suddenly spikes an amazing percentage.