Dogecoin price spikes after Elon Musk’s SNL appearance tweet, memes take over Twitter

By May 8, 2021Bitcoin Business
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Dogecoin traders have taken over social media as they believe the cryptocurrency will hit the dollar mark with Musk's SNL appearance. (Source: Fireintheholee1/ Twitter)

SpaceX and Tesla CEO Elon Musk is all set to be a guest-host on Saturday Night Live (SNL) television programme. The much-anticipated appearance is set to be a potentially market-moving event for his favourite cryptocurrency, Dogecoin.

Based on the “Doge” meme and started as a “fun” alternative to Bitcoin, Dogecoin’s value has risen phenomenally ever since Musk started to endorse it. And it was no different this time as well, with Dogecoin traders worldwide organising watch parties for Musk’s appearance.

Musk, who is the rare business mogul to be asked to host the live comedy show, teased all on the eve of the show with a tweet along with fellow guests. However, it wasn’t just the two other SNL guest stars — The Kid Laroi and Miley Cyrus — but he also included Dogecoin’s mascot, a Shibu Ina, photoshopping it of course. “I’m a wild card, so there’s no telling what I may do,” he was heard saying in a promotional video released by SNL.

SNL also informed that 100,000,000 DOGE will be distributed among everyone who takes part in the BTC streaming event. Promoting “crypto mass adoption,” they stated that Musk is hosting a 5000 BTC giveway during the show.

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/

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.

Shortly after, the price of the cryptocurrency rose to an all-time high of above 72 cents before falling slightly, Bloomberg reported.

Prices have soared an astounding 12,000% this year and about 30,000% since a low last July, the report added. “Dogecoin’s market cap — the value of all the coins known to have been digitally minted — is now about $88 billion, up from $35 billion just last week,” it said.

⚠️BREAKING:

*DOGECOIN SOARS NEARLY 25% TO NEW RECORD HIGH OF $0.7298 CENTS#DOGE #DOGECOIN ��� pic.twitter.com/cwrysIbd6r

So, as the “dogefather” — a name Musk himself came up with — is all set to make an appearance in the late-night comedy show, people are celebrating it nearing the dollar mark through hilarious memes. On Twitter, #DogeCoinTo1Dollar and #DogecoinRise dominated trends worldwide.

— Omar Navarro (@RealOmarNavarro) May 8, 2021

We’re going where no Doge has gone before.. #DogecoinToTheMoon#dogecoins #dogecoin #dogearmy #doge #DogecoinTo1Dollar pic.twitter.com/FdjbHvGsSM

#doge
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

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

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

Although Musk said that he believes that crypto could be the default future currency of the earth, nonetheless, people shouldn’t invest their life savings into cryptocurrency. “First of all, I think people should not invest their life savings in cryptocurrency. To be clear, I think that’s unwise,” he warned in a video released by TMZ.

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