Dogecoin falls sharply ahead of Tesla CEO Elon Musk’s appearance on “Saturday Night Live.”
According to Coindesk, Dogecoin has fallen by as much as 8% in the last 24 hours at 7:20 p.m. in New York. Musk, the world’s second-richest man, is involved in helping Dogecoin reach a new high on Friday (May 8) after tweeting a photo of himself and a Shiba Inu on the set of the iconic NBC show.
Dogecoin’s value has risen dramatically after Musk began to promote it, based on the “Doge” meme and started as a “fun” alternative to Bitcoin. This time was no exception, with Dogecoin traders all over the world hosting watch parties for Musk’s arrival.
Musk tweeted earlier on Friday that cryptocurrencies are “promising, but please invest with caution,” while linking to a video that showed him talking about the merits of crypto, particularly Dogecoin. That follows months of Twitter posts from Musk about the likes of Bitcoin and Dogecoin, almost all favorable
According to a tweet she wrote on Saturday, musical guest Miley Cyrus wasn’t taking the host’s obsession with the coin too seriously.
SNL also announced that everyone who participates in the BTC streaming event would get 100,000,000 DOGE. Musk is hosting a 5000 BTC giveaway during the show, they said, in order to promote “crypto mass adoption.”
According to the survey, prices have risen by 12,000 percent this year and by around 30,000 percent since a low in July. “Dogecoin’s market cap — the total value of all digitally minted coins — is now about $88 billion, up from $35 billion just last week,” the report said.
Dogecoin before Elon Musk went on SNL vs Dogecoin after Elon Musk went on SNL pic.twitter.com/nolDGoPEV3— Josiah Johnson (@KingJosiah54) May 9, 2021
Me thinking Doge Coin was going to make a dollar tonight, but Elon Musk is just being cringe on SNL. pic.twitter.com/D3nRH3Y5hR— 773 Gooner (@Alex11Marroquin) May 9, 2021