Dogecoin price moves before Elon Musk appears on SNL – fr

Dogecoin price moves before Elon Musk appears on SNL – fr

The price of Dogecoin has plummeted in the run-up to Elon Musk’s appearance on Saturday Night Live.
Many had suggested that the show could act as a catalyst for a price hike. This seemed especially likely when Mr. Musk appeared to link his interest in cryptocurrency to his appearance on the show, tweeting the date of his guest host and calling himself the ‘Dogefather’.

But the appearance also came after the boss of Tesla and SpaceX urged people to be “careful” when investing in cryptocurrencies.

“Cryptocurrency is promising, but please invest with caution! He wrote in a tweet, along with a link to a February video in which he gave similar warnings.

Perhaps due to this worrying new mood, Dogecoin’s value plummeted in the hours before Mr. Musk appeared on SNL. Just hours before its debut, the cryptocurrency was down 3.8% from 24 hours before.

In total, Dogecoin has gained almost 14,000% over the past year. It quickly went from a cryptocurrency created largely as a joke to growing 100 times the growth of bitcoin in 2021.

It was in the middle of a buoyant cryptocurrency market. Bitcoin and Ethereum rose on the last day, with the latter gaining nearly 10%.

The recent drop in the price of Dogecoin was nowhere near enough to erase the substantial gains it has made in recent weeks and days. It is still up 68% over the past week.


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