Dogecoin price plummets during Elon Musk's SNL appearance

Dogecoin price plummets during Elon Musk’s SNL appearance

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Such is Elon.

Yuriko Nakao / Getty Images

Between weeks speculation Dogcoin Believers, Elon Musk’s appearance on Saturday Night Live The Dogecoin price did not increase this weekend, for which many hoped.

In the days and weeks leading up to Musk’s much-awaited gig as SNL host, the price of Dogcoin skyrocketed. In January, Dogcoin was priced at around 1 percent. In college Last week a dogcoin cost over 70 cents.

In 2021, Elon Musk began tweeting about DogCoin, which became his most high-profile supporter and helped drive a price spike for cryptocurrencies. It is impossible to attribute the rise in DogCoin price In college Musk’s scheduled appearance on SNL, but many were buying cryptocurrencies in anticipation of a possible Dogcoin name drop. During their initial monologue.

Tesla and SpaceX CEO Play Ball-Wear DogCoin Expert Lloyd Ostertag on Weekend Update, But the anticipated price increase did not come with the character.

In fact, the opposite happened. During the final hour, the price of Dogcoin dropped from around 66 cents to less than 50 cents. This subsequently led to a light recovery of about 55 cm.

Given the inherent volatility of cryptocurrencies, and the dramatic price spikes of late, some sort of crash is not surprising, but many speculated that the price would move upward with Musk’s presence on SNL, not Plummet. Followers of Dogcoin were hoping that their presence would go towards a dollar but that did not happen.

But given the nature of cryptocurrency, the price of Dogcoin may return next week.

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