Dogecoin (DOGE) surged to a 24-hour high on Wednesday Tesla. (NASDAQ: TSLA) CEO Elon Musk hinted at this memetic cryptocurrency in an episode of Saturday Night Live next month.
what happened: Musk said in a tweet on Tuesday: “Dogefather SNL May 8.”
SNL May 8
-Elon Musk (@elonmusk) April 28, 2021
After Musk tweeted, Dogecoin reached a 24-hour high of $0.3103. The cryptocurrency has risen 8% in the past 24 hours and is trading at $0.2917 as of press time.
You can also take a look: How to buy Dogecoin (DOGE)
It was announced on Saturday that Musk will become the host of “Saturday Night Live”
Musk will perform with music guest Miley Cyrus (Miley Cyrus), and this will be her sixth performance. It is expected that the performance hosted by Musk will attract fans of “SNL” who have never participated in weekly performances.
Nevertheless, the news that Musk will host the “Saturday Night Live” has aroused a strong response online, and two members of the show’s ensemble expressed opposition through social media.
Although over the years, high-profile athletes and political figures such as Jesse Jackson, George McGovern, and John McCain have become performance shows, the show Part of it retains the role of the host of entertainers.
Why it matters: Dogecoin is based on the popular “Doge” internet meme and appeared in 2013 in the form of imitating the frenzy surrounding certain digital assets. The cryptocurrency was created by Billy Markus and Jackson Palmer.
Tesla CEO Elon Musk is a strong supporter of Bitcoin (BTC) and Dogecoin.Musk’s tweets about Dogecoin can sometimes have an overwhelming effect on the price of the meme cryptocurrency. In addition, Tesla’s most recent first-quarter earnings report showed that the electric car manufacturer’s investment in Bitcoin helped increase its profits.
The Shiba Inu-themed cryptocurrency surged to a record high of $0.4377 on April 16, driven by the buzz of social media.
According to CoinMarketCap data, Dogecoin is now the sixth largest cryptocurrency in terms of market capitalization.
Read the next article: Mark Cuban and Elon Musk defend the “unlimited supply” of Dogecoin, claiming that it has an advantage over Ethereum
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