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Dogecoin is still in the dog house after the appearance of Elon Musk’s ‘SNL’




But even after a 5% price increase on Tuesday, from about 46 cents to just under 49 cents per coin, dogecoin is still trading well below the levels it touched just before. Musk’s appearance on “Saturday Night Live” a few days ago.

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.

But instead of expressing dogecoin, as many sponsors had hoped, Musk he mocked her a bit with his mother in the opening monologue and again in a “Weekend Update” segment in which he played a fictional financial expert named Lloyd Ostertag whom he called dogecoin as “rush”.

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.

Damage control

However, it now appears that Musk is doing some damage control, reminding investors that he is open to paying payments in dogecoin, as well as in the crypto bitcoin leader, which Tesla (TSLA) now accepts your vehicles as payment i it keeps on its balance sheet.
In addition to Tuesday’s fan polls on the possibility of allowing customers to buy a Model S, 3, X or Y vehicle with doge, Musk’s other well-known company, SpaceX, has just revealed that it will allow a customer to launch a payload on an upcoming lunar mission to pay in dogecoin.

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.

And a new cryptocurrency that was launched this week, Internet Computer (ICP), has come out the door and is already worth about $ 50 billion. This makes ICP a witness similar to ethereum, the eighth largest cryptocurrency in the world.