How Musk’s SNL Appearance hurt the value of Dogecoin

Dogecoin joke was back to hound it while Elon Musk was on Saturday Night Live (SNL). The cryptocurrency hovered around 69 cents during the start of the SNL parody news program. But as the show proceeded the value plummeted to around 56 cents. The end of the show saw the value of Dogecoin at 51 cents.

Musk identified himself in a rather casual manner and joked that he is “pretty good at running human emulation mode.” The billionaire teased about his description as an entrepreneur, genius, disruptor and vague digital economy drifts like cryptocurrencies.

SNL was, for the first time ever, live-streamed on YouTube in more than 100 countries across the globe.

Musk and Mark Cuban have been a force behind the success of Dogecoin, a cryptocurrency that was coined from a joke meme. The currency almost resembles Litecoin, but the difference is that there is no hard cap on the number of Dogecoins that can be created.

Sunday Night Live show was highly anticipated and crypto-investors were eagerly waiting to make a ‘kill’ out of it. However, the outcome was contrary to the expectations of many.

Strangely, Elon Musk – the founder of SpaceX, a space exploration firm was live on SNL when a Chinese rocket fell from space.

During the SNL program, billionaire Elon Musk described himself as “the first person with Asperger’s to host SNL.” It was the first time for Musk to publicly link himself to the condition. However, the Daily Beast objected Musk’s assertion citing that Dan Aykroyd was the first SNL host with Asperger’s syndrome.

How Rich is Elon Musk?

According to Forbes Magazine, Musk’s net worth is valued at $166 billion. He owns about 21% stake in Tesla, while he is the full proprietor of SpaceX.

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