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Dogecoin Drops after SNL Musk’s Appearance

Like most crypto investors, you may have expected Elon Musk to push DOGE to new heights once more. However, things seem to have gone the other way. Many crypto investors were hoping Dogecoin skyrocket after the Saturday Night Live show. Unfortunately, only DOGE clones pumped high, while the actual Dogecoin crashed after SLN.

If you were counting on Dogecoin to get your guardian a mom’s day present, you better change your plans.

The virtual coin crashed 25% during the day. Many individuals and investors expected Elon Musk to introduce DOGE to more audiences, boosting the token’s interests. What were you expecting out of the SNL Musk’s appearance event?

Dogecoin Army never met their expectations. The Tesla CEO appeared in the show, engaged and joking throughout the show.

How It Went Down

The whole horror story started with actors sharing sweet words with their parents as it was mother’s day. Then it came Musk’s time on the stage. The CEO joke for some moments, including his throwback, where at age 12, the Tesla owner created a video game showing a spaceship fighting aliens. Is that what sparked his interest in things to do with space?

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Elon’s mum appeared and requested him not to give her DOGE as a mother’s day present. The executive disappointed his mom, saying he was going to send her the digital coin. Did you watch the show? What do you think about Elon’s short and joking statement at that moment?

That is where the horror began.

Elon appeared on the second time as part of the “Weekend Update,” a famous sketch that stimulates the news show. At this moment, the host asked Elion to define Dogecoin. Surprisingly, the CEO’s response was unsatisfactory. Nevertheless, the Tesla executive admitted that crypto may define the currency’s future, taking over the globe. After all that, everyone accepted that Dogecoin was in no way special but a “hustle.”

What might surprise you is that Dogecoin dropped during the whole hour-long event. The digital coins registered their prime red candle since launching in 2013. Dogecoin crashed to $0.41 low from a $0.7 high. Eventually, the hourly candle closed at USD 0.54.

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Did Musk’s SNL appearance impact Dogecoin price movements? You can comment on your thoughts below.

Eino Kinnunen (Finland)

Eino is a new writer for Tokenhell, he resides in Espoo, Finland and he has been a crypto journalist for over 3 years for various cryptocurrency news agencies.

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