Someone asked: How can a single comment from a celebrity make a meme coin skyrocket?
My usual answer is: The celebrity effect is especially pronounced with meme coins because they lack other benchmarks for valuation. What a celebrity’s remarks mainly bring is attention, and attention fades quickly, so prices rarely stay elevated for long.
$DOGE 0.06628（-2.76%）
When did you first figure this out?
Just a note, not investment advice.
My usual answer is: The celebrity effect is especially pronounced with meme coins because they lack other benchmarks for valuation. What a celebrity’s remarks mainly bring is attention, and attention fades quickly, so prices rarely stay elevated for long.
$DOGE 0.06628（-2.76%）
When did you first figure this out?
Just a note, not investment advice.