Quote from: Saisher on Today at 02:32:14 PM

Quote from: peerwallet on February 10, 2024, 03:31:54 PM

I have seen several of these tokens, how is this even possible?

Dogecoin is just a copy of Bitcoin but it landed on the top 20 that's because of Elon Musk, who is considered to be a big influencer in the market, so it is more of hype, and on what's trending, it's easy to make money from pump and dump coins if a coin has an influencer behind him and they engaged on creating hype, it's a domino effect, people will invest on coins that are getting the attention of investors even though they employed deceptive marketing.
Investors want quick profit they are easily swayed by hype, something they cannot get from projects that will take years to complete their roadmap and perform better in the market.

Dogecoin had a huge community before Elon Musk drew attention to it. And what Elon Musk did, who was shill the coin, increased the price of Dodge, after which the price of the coin returned to its previous values. So famous personalities like Elon Musk can come and go, and the community will always stay with Doge.