Elon Musk is this weekend's host of Saturday Night Live with special musical guest Miley Cyrus. The people's cryptocurrency, Dogecoin, had rallied nearly 1100% in the past month with Elon Musk's SNL appearance viewed as some sort of catalyst. It appears this is the case, as DOGE dropped over 20% in the past hour. This is fine if you have diamond hands. Speaking of which, here's Elon Musk's SNL cryptocurrency segment from Weekend Update.
Lloyd Ostertag stopped by the desk to talk cryptocurrency. pic.twitter.com/cuILxOBJlj— Saturday Night Live - SNL (@nbcsnl) May 9, 2021
Lloyd Ostertag is a great alter-ego. Here's Elon's SNL monologue.
r/WallStreetBets, a hive of gambling on stock options and crypto speculation on the Internet, has heralded the Tesla CEO as one of their prophets. "Papa Elon," as they call him all over the Internet, was going to make DOGE go to the moon tonight. We were going to hit $1.00 for sure. About that...
Now DOGE has rebounded off the lows. Hilariously enough, the rally occurred during Elon Musk's Weekend Update segment. He did say that Dogecoin was "a hustle."
As of right now, DOGE is down 20% in the last day. It is volatile as heck. Very wow. Such price movement.
Here's some interesting facts about Dogecoin:
- Over $70 billion market capitalization
- $0.4712 is the 24 hour low
- $0.7397 is the 24 hour high
- $0.022 is the 52 week low
- $0.7397 is the 52 week high
- There are currently 129.36 billion DOGE in circulation
- It started as a meme, they used to read Word Up magazine
- Much information
Who knows where Dogecoin is going in the long run, but it is certainly down today. This might be a lesson for people out there, that buying risk assets on the speculation that a TV show appearance by a billionaire CEO might not be the best idea? This isn't financial advice, but food for thought.
Are you long Dogecoin? Do you hate Dogecoin? Do you not care about Dogecoin? Do you own a Shiba Inu dog? Let us know in the comments section, and please post a picture of your dog. Such community engagement! Very wow!
Captain Business posted a new article, Dogecoin (DOGE) crashes over 20%, Elon Musk yells 'to the moon' on SNL Weekend Update segment
It held value for most of the week, there was plenty of time for people to cash out
I’m sure it will go back up
I went to a Shiba Inu cafe last week and there was a mandatory 1 drink/person to sit with the doggies.
There was about 6 of them wandering around. They only paid attention to you if you fed them treats.
Eventually, one little baby dog started a fight with the others but ran away while the rest of them were fighting with each other.
Somewhat NSFW https://www.youtube.com/watch?v=jrTXBFcvoMQ
BUY THE DIP
Ditto. My initial buy-in was so small that I have no incentive to sell any time soon, and until I cash out all my gains are just on paper anyways. Why get off a rollercoaster when it's just getting fun?