Dogecoin Plunges 24 Percent During Elon Musk's Saturday Night Live Monologue
The value of dogecoin drops significantly as Elon Musk hosts Saturday Night Live, with the billionaire openly calling the cryptocurrency a hustle. Traders and viewers immediately take to social media to react to the sudden market dip.
The price of dogecoin takes a massive 24 percent dive during Elon Musk's highly anticipated Saturday Night Live appearance. The cryptocurrency drops from roughly 0.6765 USD before the show to 0.5115 USD just before the broadcast concludes, leaving online traders stunned by the sudden plummet.
Cryptocurrency enthusiasts quickly connect the market downturn to Musk's performance on the popular late-night sketch show. During the "Weekend Update" segment, Musk explicitly labels dogecoin as a hustle after initially hyping it as the future of money, prompting immediate jokes and confusion across social media platforms.
Despite the harsh mid-show crash, the meme-inspired currency recovers slightly to a 19.5 percent loss by the time the episode ends. Loyal supporters remain optimistic on Twitter, using the trending hashtag #dogetothemoon to declare that the temporary dip simply weeds out non-believers from the dedicated dogecoin community.