Dogecoin price rises after Elon Musk tweets that he is ‘The Dogefather’

Elon Musk branded himself as ‘The Dogefather’ when confirming that he will be appearing on an upcoming episode of American talk show Saturday Night Live.

This saw Dogecoin’s price skyrocket and according to CNBC via Complex, its rose by 20 percent on Wednesday now priced at $0.34 before dropping slightly.

The more Tesla CEO Musk tweets about Dogecoin, the more its price rises as earlier in April, it surged to a personal high of $0.43. Global consumer research platform Piplsay believe that Musk’s tweets has had an influence on the American population’s interest in Dogecoin.

Dallas Mavericks owner Mark Cuban has also jumped on the Dogecoin bandwagon with a series of tweets in the last few days, labelling the cryptocurrency as “the one coin that people actually use for transactions.”

“People spend their Doge and that means more businesses will start taking it,” he added.



When appearing on the “Ellen Show”, Cuban said that Dogecoin was “a whole lot better” of an investment “than a lottery ticket.”

Meanwhile Musk’s SNL appearance is scheduled for May 8th and will feature live performances from Miley Cyrus.

Source: Hypebeast