The prices soared after Elon Musk teased followers with a tweet about his SNL appearance, which included Dogecoin's mascot, Shibu Inu, in it, sparking an online meme-fest.
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| Dogecoin traders have taken over social media, predicting that Musk's presence on Saturday Night Live would push the cryptocurrency over the $1 level. (Image courtesy of FireintheHolee1/Twitter) |
Elon Musk, the CEO of SpaceX and Tesla, is scheduled to appear as a guest host on Saturday Night Live (SNL). The much-anticipated presence is expected to be a market-moving occurrence for Dogecoin, his favourite cryptocurrency.
Dogecoin's value has risen dramatically after Musk began to promote it, based on the "Doge" meme and started as a "fun" alternative to Bitcoin. This time was no exception, with Dogecoin traders all over the world hosting watch parties for Musk's arrival.
Musk, who is the only business mogul invited to host the live comedy show, teased everyone with a tweet on the eve of the show, along with other guests. He didn't only include the two other SNL guests, The Kid Laroi and Miley Cyrus, but he also included Dogecoin's mascot, a Shibu Ina, which he obviously photoshopped. In a promotional video released by SNL, he was heard saying, "I'm a wild card, so there's no telling what I could do."
Guest starring … pic.twitter.com/buM3bTOWbX
— Elon Musk (@elonmusk) May 7, 2021
SNL also announced that anyone who participates in the BTC streaming event would receive 100,000,000 DOGE. Musk is hosting a 5000 BTC giveaway during the exhibition, they said, in order to promote "crypto mass adoption."
We are ready to present the event we announced on our show today. We want to thank our supporters and also help crypto adoption.
100 000 000 DOGE will be distributed among everyone who takes part in this event.
Join now: /www.btcstream.top/
— SNL (@mouawad) May 7, 2021
Our mission is to advance humanity by solving the world’s hardest problems. We want to thank our supporters and also help crypto mass adoption.
1 – Like & retweet
2 – Join here: /www.btcstream.top/
5000 BTC will be distributed among everyone who takes part in this event.
— SNL (@mouawad) May 7, 2021
According to Bloomberg, the cryptocurrency's price soared to an all-time high of over 72 cents until dropping slightly.
— TradingView (@tradingview) May 7, 2021
According to the survey, prices have risen by 12,000 percent this year and by around 30,000 percent since a low in July. “Dogecoin's market cap — the total value of all digitally minted coins — is now about $88 billion, up from $35 billion just last week,” the report said.
⚠️BREAKING:
*DOGECOIN SOARS NEARLY 25% TO NEW RECORD HIGH OF $0.7298 CENTS#DOGE #DOGECOIN ��������� pic.twitter.com/cwrysIbd6r
— Investing.com (@Investingcom) May 8, 2021
As the “dogefather” — a nickname coined by Musk — prepares to make an appearance on the late-night comedy show, fans are celebrating the milestone by creating funny memes. #DogeCoinTo1Dollar and #DogecoinRise were the most common hashtags on Twitter around the world.
WE DID IT!! AHHH #Dogecoins ������ pic.twitter.com/L5AguqAta4
— ��� Diamond Paws ��� (@AssassinHearts) May 7, 2021
Doge getting ready for tomorrow pic.twitter.com/sKKIiCVg0y
— Nife Oluyemi (@nifeoluyemi) May 7, 2021
That’s an all-star cast! ��� pic.twitter.com/Xb2DEv4iNX
— ��������� (@itsALLrisky) May 7, 2021
LET’S GO TO THE MOON!!! ��������� pic.twitter.com/yivPrpq8aw
— Jitin (@Jitin42069) May 7, 2021
Doge is official, more and more ��������������� #dogearmy #DogecoinRise #dogecoin @BillyM2k pic.twitter.com/AXQcja2yRM
— Doge Stonk (@doge_stonk) May 7, 2021
Love this one. Pass it on pic.twitter.com/uWaslMbf88
— Omar Navarro (@RealOmarNavarro) May 8, 2021
#Doge after hitting a dollar. @elonmusk pic.twitter.com/XB6CgUruZL
— Jesse (@Jessewelle) May 8, 2021
We’re going where no Doge has gone before.. #DogecoinToTheMoon ��� #dogecoins #dogecoin #dogearmy #doge #DogecoinTo1Dollar pic.twitter.com/FdjbHvGsSM
— ��������� (@itsALLrisky) May 8, 2021
is going to be 1 usd in next days.
İs going to be 10 usd in next months.
is going to be 100 usd until end of this year.
is going to be 1000 usd in one year.
Thanks @elonmusk pic.twitter.com/r9F0zY869m
— MAN IN BLACK (@Fireintheholee1) May 8, 2021
Just remember Shibes, no matter what the market value of #Dogecoin is…
1 #DOGE will ALWAYS = 1 #DOGE���#dogearmy #DogecoinRise #DogeCoinTo1Dollar #Dogefather pic.twitter.com/3XLFMF6jgF
— Joe The Crypto Pro ��� (@JoeTheCryptoPro) May 8, 2021
Even the memes want some. @dogecoin #Dogecoin #doge pic.twitter.com/XZB5T8A7Jh
— Scott Theis (@ScottTice3) May 8, 2021
It’s only a matter of time for #dogecoin and @Tesla to have some fun together! ��������� #doge #dogearmy #DogecoinRise #dogetesla #Tesla pic.twitter.com/y5FH6N74dt
— Ðogecoin~CA (@topherAlba26) May 8, 2021
Despite Musk's belief that cryptocurrency would be the world's default currency in the future, people should not put their life savings into cryptocurrency. “First and foremost, I do not believe that people can invest their life savings in cryptocurrency. To be clear, I believe that is unwise,” he cautioned in a TMZ video.
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