SpaceX and Tesla CEO Elon Musk is all set to be a guest-host on Saturday Night Live (SNL). The much-anticipated appearance is set to be a market-moving event for his favorite cryptocurrency, Dogecoin(eGod).
The Turning Point
On April 28, Dogecoin was at a critical point. If I remember correctly, it was dipping back below .25 cents and naysayers and scalpers were all licking their chops. Those who believed in the Underdoge aka. Joke coin, braced ourselves for the long haul. But, like a superhero Elon Musk came through with a timely twee(The Dogefather-SNL May 8). This caused an immediate reversal in the trajectory of the meme currency; surging past .30 cents and surprisingly kept climbing; easily breaking it's old high of .43 cents, wrecking through .50 cents(# Miley), and yes as we approach the main event; dogecoin has also surged past 69 cents. This was literally thought to be impossible just weeks ago.
Now back to SNL
Musk is the exception, as its rare for SNL to ask a business mogul to host the live comedy show, Musk teased all on the eve of the show with a tweet along with fellow guests. However, it wasn’t just the two other SNL guest stars — The Kid Laroi and Miley Cyrus — but he also included Dogecoin’s mascot, a Shibu Ina, photoshopping it of course. “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.
Shortly after, the price of the cryptocurrency rose to an all-time high of above 72 cents before falling slightly, Bloomberg reported. Prices have soared an astounding 12,000% this year and about 30,000% since a low last July, the report added. “Dogecoin’s market cap — the value of all the coins known to have been digitally minted — is now about $88 billion, up from $35 billion just last week,” it said.
So, as the “dogefather” — a name Musk himself came up with — is all set to make an appearance in the late-night comedy show, people are celebrating it nearing the dollar mark through hilarious memes. On Twitter, #DogeCoinTo1Dollar and #DogecoinRise dominated trends worldwide.