Instead of going “to the Moon,” the price of cryptocurrency Dogecoin crashed and burned as the ‘Dogefather’ Elon Musk hosted an episode of Saturday Night Live.
It was Musk’s mother Maye who name-dropped Dogecoin in the opening skit, saying she hoped it wouldn’t be her Mother’s Day gift.
“It sure is,” replied the SpaceX and Tesla founder.
— RT (@RT_com) May 9, 2021
Musk then made an appearance on the ‘Weekend Update’ segment as a financial analyst calling himself the “Dogefather,” hyping the cryptocurrency before agreeing with the cast members that “it’s a hustle.”
— Andrea Poci (@TheRealPoci) May 9, 2021
After going up slightly as the comedy show went live, the price of Dogecoin – a meme cryptocurrency with an estimated capitalization of $90 billion by now – went into free fall. It was down by almost 27%, going from 66 cents to 50 cents, in the space of an hour.
Elon Musk has 25 minutes to save his $DOGE or it’s going to pass the moon on its way back to Earth. Or is this a “Moon & Shoulders” pattern forming. -26% 🙈 in just one hour. pic.twitter.com/S25DbUQvU0
— Ξ Fly Guy Ξ (flyguy.eth)🚀 🦇🔊 (@FlyGuyInTheSky) May 9, 2021
Hahahahahah. Crypto folks had been hyping up Elon Musk’s appearance in SNL with the possibility of DOGE will be skyrocketing. https://t.co/FSXZ47iJJd
— Riyan Wahyudi (@riyanwahyudi) May 9, 2021
It had regained some ground by the episode’s closing, going back to around 55 cents.
You know what wasn’t on my bingo card? Elon Musk trying to explain dogecoin on SNL
— ms. perfectly fine (@darbwell) May 9, 2021
It didn’t help that the sketch comedy show just could not land a joke – at least until a pre-recorded skit making fun of Musk’s Mars colonization push, featuring actors Pete Davidson and musical guest star Miley Cyrus.
The eccentric billionaire may have actually tried to warn everyone, introducing himself as “the first person with Asperger’s to host SNL… or at least the first to admit it,” and joked that he was “pretty good at running ‘human’ in emulation mode.” (RT)
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