Dogecoin took a dive during Elon Musk’s ‘SNL’ hosting gig
Elon Musk’s “Saturday Night Live” hosting gig did not send Dogecoin to the moon — instead, it slid by 21 percent during the broadcast, despite multiple mentions of the SpaceX founder’s favorite cryptocurrency.
The meme currency started the day at a high of $0.73, and sold off to $0.63 as SNL went live from NBC’s Studio 8H at 11:30 p.m., according to Coindesk’s price history.
After Musk mentioned the currency as a Mother’s Day present for his own mom, who was on hand during his monologue, the asset slid by six cents.
“I’m excited for my Mother’s Day gift,” Musk’s mother said. “I just hope it’s not Dogecoin.”
By 12:29 a.m., the currency plummeted to $0.50. before rebounding to $0.56 as the show went off the air, according to the site.
Musk also revealed to the audience he has Asperger’s syndrome during the opening speech.
The Tesla CEO also did a Q and A about the currency on the Weekend Update segment, which poked fun at the esoteric nature of coin.
A sketch at the end of the comedy show also poked fun at early currencies.
The day before the show, Musk warned investors to be careful when trading Dogecoin and other currencies.
“Cryptocurrency is promising, but please invest with caution!,” he tweeted.
Saturday’s volatility came after crypto CEO Barry Silbert took to Twitter to announce he was betting against Doge, which started as a joke.
“Okay $DOGE peeps, it’s been fun. Welcome to crypto! But the time has come for you to convert your DOGE to BTC, Silbert wrote.