Dogecoin falls from all-time high after Elon Musk stars in Saturday Night Live

There was plenty of expectation particularly from investors that Dogecoin would hit the $1 [€0.82] value mark by the time Elon Musk had featured on American comedy show Saturday Night Live.

Instead, the meme-based cryptocurrency’s value dropped by 38.6% from an all-time high of $0.73 [€0.60] per coin prior to Musk’s appearance on SNL – decreasing to around $0.44 [€0.36]. Although the self-proclaimed “Dogefather” did give a shoutout to Dogecoin, the results didn’t go according to plan.

Musk didn’t exactly praise Dogecoin, instead branding the cryptocurrency as a “hustle” on the show. For the Tesla CEO, his appearance in front of the screens proved to be a big hit, boosting the show’s ratings considerably. Musk’s debut on SNL also saw the show being streamed to over 100 countries on a YouTube live stream.


The following night, Musk revealed on Twitter his upcoming plans for SpaceX. Maybe he does still have an interest in Dogecoin…

Source: Hypebeast