Dogecoin prices were north of 70 cents in the early hours of Saturday and had fallen back slightly to 65 cents just before the issue.
The cryptocurrency quickly fell around 20% to 51 cents just after the show and continued to slide to 44 cents on Sunday morning before recovering slightly.
The slide after “SNL” shows how much the dogecoin has risen sharply. The show is a comedy series, not an infomercial, and anyone expecting Musk would be allowed to pick up breathless compliments on the cryptocurrency and not joke about it clearly miscalculated.
This news helped the cryptocurrency bounce back to a low on Sunday. But one wonders if the price before the “SNL” of the dogecoin, which now has a total value of $ 65 billion and is the fourth most valuable cryptocurrency in the world, will be its maximum.
Of course, anyone who has had dogecoin for the past few months has few complaints. The price has risen by more than 10,000% so far in 2021.
But in the rapidly changing world of cryptocurrencies, investors always have some other shiny new currency to explore.
There’s even a canine-themed alternative currency, the Shiba Inu, which rose nearly 2,000% last week and now has a market value of about $ 13 billion. Shiba Inu is the Japanese breed of dog that has become the face of many dogecoin memes.
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