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Dogecoin down nearly 92% since Elon Musk SNL appearance
On May 8 2021, billionaire Tesla CEO Elon Musk appeared on “Saturday Night Live” after having tweeted about cryptocurrency Dogecoin for months. Since that appearance, the digital asset is down nearly 92%.
Dogecoin’s value peaked right before the show aired on the expectation that Musk, who had become known as a doge bull, might plug the coin, sending it higher, or “to the moon.” Musk did talk about it during the Weekend Update segment – he was asked repeatedly by hosts Michael Che and Colin Jost what it was – which led to the punchline that dogecoin was “a hustle.”
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