Elon Musk’s Favorite Cryptocurrency Dogecoin Plunges After ‘SNL’ Mentions
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deadline.comFears that Saturday Night Live guest host Elon Musk would use the platform to hype cryptocurrency Dogecoin proved largely unfounded.This morning, the air has been let out of the Dogecoin balloon by speculators.
The coin rose as high as 73 cents on some exchanges last night before plunging to around 48 cents as of this report, a drop of more than 26 percent.Dogecoin’s price started to fall at the 11:30 ET/8:30 PT start of SNL, and the plunge accelerating as the show ended.While Musk did use Dogecoin as a foil through the show, it was mentioned mostly for comic effect.
The one tout came in the “Weekend Update” segment, where “financial expert” Musk has trouble explaining exactly what the coin was to the baffled Michael Che and Colin Jost.
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