The coin plummeted in value to $0.45, tarnishing investor hopes it would soar past $1 “to the moon.”
The value of dogecoin sank to 44 cents on Sunday morning despite multiple shoutouts from Tesla billionaire Elon Musk during his much-anticipated appearance on “Saturday Night Live,” a disappointment for the many investors who hoped the self-proclaimed “Dogefather” would help rally the coin’s value past $1. ... [+]At the time of writing, dogecoin was trading at around $0.44 cents per coin, a 38.6% decrease from the previous day.
However, as the Tesla and SpaceX entrepreneur took to the stage for his “SNL” debut, the coin’s value quickly began to tumble, dropping by as much as 29.5% to $0.49. After a short back-and-forth with co-hosts Michael Che and Colin Jost, Musk at one point conceded that dogecoin was a “hustle.”
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