Comic and crypto-joke program: the idea seemed good. Elon Musk makes his show during Saturday Night Live, without succeeding in pumping the crypto-doggie. The markets have even been entitled to the opposite effect.
The greenback hustler
Elon musk once again gave its moment of glory to Dogecoin (DOGE), during the appearance of the CEO of Tesla at the Saturday Night Live, May 8, 2021. The laughter of the public did not however succeed in increasing the price of the DOGE to the moon.
During the opening monologue of the comedy show, the mother of Elon Musk, Maye musk, told her son in an amused tone, that she did not wish to receive Dogecoin as a mother’s day gift.
Although the billionaire’s mother made onlookers laugh, the entrance to Musk playing the role of the “financial expert” Lloyd Ostertag during the segment Weekend Update of SNL had more impact on the markets. The moment preceded a 30% drop in the price of DOGE.
In good Dogefather, Musk reported that cryptocurrency prices have seen a massive increase, including Bitcoin (BTC), theEther (ETH), and the DOGE.
He dodged the team member’s question, however. SNL, Michael che, as to the definition of Dogecoin.
Musk provided information on the history of DOGE and on the supply in circulation. He stated towards the end of the show that the Dogecoin was “about as real” as the US dollar. According to him, the DOGE shoves the latter.
We stop laughing !
Shortly after the opening monologue of the SNL, the price of DOGE had fallen from $ 0.69 to less than $ 0.50, a level it had exceeded in early May 2021. One hour before the start of the episode, the price of DOGE was $ 0.66.
2 weeks ago, Musk had issued a tweet informing that he would play in a sketch, in the skin of the character of the Dogefather.
Many holders of DOGE expected the appearance of Musk on the show, drive up the price of crypto.
In 2020, the DOGE can thank the tweets of the Tesla CEO and the owner of the basketball club Dallas mavericks, Mark Cuban, as well as messages from retail investors on r / WallStreetBets. They are at the origin of the explosion of its price. At 1er January 2021, the price of DOGE was below $ 0.01.
And a gain of 1% per 10 seconds of laughter from the public: the new finance is fun, but the crypto-joke markets have not appreciated this type of joke.
Fashion is good, but blockchain is the future, we agree, right ?! It’s a great opportunity and an evolving sector! On a daily basis, my job is to try to popularize cryptos / blockchains as well as possible, which appear to be far too technical.
The comments and opinions expressed in this article are those of the author alone, and should not be considered as investment advice. Do your own research before making any investment decisions.