Dogecoin plunges nearly 30% during Elon Musk's 'Saturday Night Live' appearance.
The meme-inspired cryptocurrency fell as much as 29.5 percent, dropping to 49 cents at one point. Musk mentioned dogecoin in his opening monologue and on “Weekend Update,” SNL’s satirical news show.
In a Q&A with hosts Michael Che and Colin Jost, Musk called himself the “Dogefather,” said dogecoin was a “hustle,” and howled, “To the moon,” a catchphrase popular among doge enthusiasts intent on driving the value of the cryptocurrency to one dollar. The price of dogecoin began to rebound during the “Weekend Update” skit. At the time of this writing, it was worth 45 cents, down about 17 percent from the beginning of the show.
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Elon Musk Warns People To ‘Invest With Caution’ As Dogecoin Rallies Ahead Of His SNL AppearanceI am a London-based reporter for Forbes covering breaking news. Previously, I have worked as a reporter for a specialist legal publication covering big data and as a freelance journalist and policy analyst covering science, tech and health. I have a master’s degree in Biological Natural Sciences and a master’s degree in the History and Philosophy of Science from the University of Cambridge. Follow me on Twitter theroberthart or email me at rhartforbes.com
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