Tesla’s CEO Elon Musk is ready to make his much anticipated appearance as a host on Saturday Night Live (SNL) on May 8, and we can’t wait to see just how much is appearance is going to affect his recent favourite cryptocurrency, Dogecoin. He is also one of the few business tycoons to host Saturday Night Live.
In a tweet on April 25, SpaceX founder Musk had confirmed that he will host SNL on May 8. “Let’s find out just how live Saturday Night Live really is,” Musk added in another tweet.
Elon Musk on SNL
Musk’s recent tweet on his SNL appearance was a picture of him with Miley Cyrus, The Kid Laroi, and the Dogecoin’s mascot, AKA a Shibu Ina, and it has (again) caused the prices of Dogecoin to rise high.
The value of Dogecoin has been on the rise ever since Elon Musk started to endorse it, and now traders from all over the world can’t wait to find out what Musk’s appearance in the show means for Dogecoin. So far, the simple meme photo that Musk posted on his twitter was enough to send the crypto surging high.
“I’m a wild card, so there’s no telling what I may do,” he was heard saying in a promotional video released by SNL.
Will the value of Dogecoin rise even further after Musk’s appearance on SNL?
Over the last couple of weeks, Musk has been dropping cryptic messages about his performance with tweets such as “The Dogefather” and “Woke James Bond”, and has previously also done a lot of promotion for the cryptocurrency on his social media.
This leads to fans believing that Musk will definately be mentioning or promotiong Dogecoin on SNL, which is going to result in it’s value rising. The crypto’s value has already risen ahead of his appearance.
Elon Musk’s promotion for Dogecoin
The cryptocurrency has been made popular by Musk, and reached an all-time high last month after a 70.22 per cent in 24 hours, the highest ever surge it had seen. This took Dogecoin’s value to $0.122680 or almost 12 cents. The market cap of Dogecoin, literally listed as a ‘memecoin’, touched over $14 billion.
The surge experienced by Dodgecoin was incredible, since it was less than a cent at the start of this year. It shot up to 7.5 cent before going down to 2.5 cents. Dogecoin spent last few months between three and seven cents range. However, the crypto got the boost when its price began to rise again, before smashing the 10-cent milestone.
What other cryptos has Musk supported?
Elon Musk has always been very vocal about his interest in crypto currency. He has even shown his interest in bitcoin, and recently, his company Testla invested $1.5 billion in Bitcoin, which sent the crypto surging to an all time high.
Elon Musk has already backed two crypto currencies, and they are both now the biggest ones so far. We’re curious to see what other crypto currencies Musk will be tweeting about.
What is Dogecoin?
Dogecoin is a cryptocurrency which was created in the December of 2013, by two software engineers Billy Markus and Jackson Palmer. It is a digital currency just like Bitcoin, used for e-transactions. Hilariously, the coin got its name from a ‘doge’ meme and has a picture of the shiba inu on it.
The currency came into global prominence after Tesla’s chief executive officer (CEO) Elon Musk, rapper Snoop Dogg and rock band Kiss’ bassist Gene Simmons mentioned it on Twitter.