Days of torrid Dogecoin gains erased as Musk ‘SNL’ episode airs
The altcoin [which started recently as a NFT selling at 4 cents] had surpassed 73 cents on Saturday before dropping to 46.01 cents as of 8:08 am in New York Sunday, a 35% decline in 24 hours, according to pricing from CoinGecko.
Dogecoin hadn’t been below 50 cents since May 4, amid a rally in anticipation of the SNL episode. The activity may also have affected Robinhood, which said earlier that it was having some issues with crypto trading, citing high volume and [speculative] volatility.
[Autistic] Musk, who said he’s the first person with Asperger’s to host the show, was asked repeatedly during the “Weekend Update” [comedy news] segment to explain what Dogecoin is.
After reciting multiple facts about the cryptocurrency in the character of a financial expert, he was asked if Dogecoin was a “hustle.” He responded, “Yeah, it’s a hustle.” [And now everyone knows.]
(SNL) What's the situation on Mars (with all that Martian wind sound)?
Musk, 49, is the world’s second-richest person with a net worth of $183.9 billion, according to the Bloomberg Billionaires Index.
He had helped drive the coin to new heights on Friday and Saturday after tweeting a picture of himself and a Shiba Inu, the dog breed that lends its image to the altcoin [which is called a /D'oh-juh/ coin, like Doja Cat if she said it with a single syllable, that should really probably be pronounced /Dog-e/ coin], on the set of the NBC show.
Dogecoin, a cryptocurrency that started as a joke in 2013, has surged more than 16,000% in the past year, according to CoinGecko.
Musk has been among its biggest boosters, along with Mark Cuban, Snoop Dogg, and Gene Simmons. Dogecoin traders around the world organized watch parties for the “SNL” episode. More
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