Dogecoin is crashing while Elon Musk is on Saturday Night Live..!!
The cryptocurrency have fell almost 8% in the past 24 hours. The world’s second-richest person helped drive the coin to a record on Friday after tweeting a picture of himself and a Shiba Inu on the set of the iconic NBC show.
While Elon is hosting the SNL, investors began to sell their dogecoins. Dogecoin was trading around 69 cents when the show have started and then it began to crash. Currently trading at 56 cents, 12% dip!
Dogecoin, a cryptocurrency that started as a joke in 2013, has surged more than 13,000% this year, according to Coindesk. Musk has been among its biggest boosters, along with Mark Cuban, Snoop Dogg and Gene Simmons.
Musk tweeted earlier on Friday that cryptocurrencies are “promising, but please invest with caution," while linking to a video that showed him talking about the merits of crypto, particularly Dogecoin. That follows months of Twitter posts from Musk about the likes of Bitcoin and Dogecoin, almost all favourable.
