Elon Musk SNL tweet spikes Dogecoin

Elon Musk Dogecoin

The Dogefather is in the house! Or about to be real soon. This is what Tesla CEO Elon Musk refers to himself now, ahead of his fairly hyped appearance on Saturday Night Live on May 8.

His hosting spot on SNL was announced last week.

And his latest tweet signals the possibility of Dogecoin feature in his Saturday Night Live hosting debut. Goes without saying, it prompted a spike in the value of the cryptocurrency, as it climbed a solid 20% in the blink of an eye.

The tweet:

As you can imagine, the tweet prompted excitement among Dogecoin traders that the meme cryptocurrency would see further attention in front of a large television audience.

Created in 2013, DOGE is a crypto derived from a meme. And it has seen an increase in price of over 6,000% this year alone, thanks to the attention it has garnered from the Tesla CEO who regularly talks and tweets about this digital coin.

It had been trending downwards toward $0.25 apiece over the previous 24 hours, but spiked by more than 20% to over $0.31 following the mention from Musk.

Of course, it subsequently pulled back, and is trading for $0.29 at the time of writing.

Which is, obviously, how it goes in the crypto space.

Prior to this little adventure, DOGE most recently featured in Musk’s tweets on April 1 where he claimed to put a literal Dogecoin on the literal moon. That may or may not have been an April Fool’s joke, but the tweet was followed by a 32% rise in the price of this meme coin.

All in a good day’s work, eh?

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