Doge Day Redemption? Elon Musk Teases Dogecoin Push on SNL

Doge Day Redemption? Elon Musk Teases Dogecoin Push on SNL

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In brief

Tesla CEO and Dogecoin fan Elon Musk will host Saturday Night Live on May 8. Musk, whose tweets often affect the price of DOGE, has teased something related to the coin for his appearance.

Amidst a wild 2021 surge that has seen the price rise from under a penny to as high as nearly $0.42, Dogecoin (DOGE) enthusiasts aimed to give the meme coin an extra, concerted push on April 20, which they dubbed “Doge Day.”

Dogecoin’s price did not obey, however. Despite aims to bring the price of the coin to $1 (or even $0.69), the price sank 20% in 24 hours. But DOGE fans may still get their day soon, as one of the coin’s most prominent holders—and one of the world’s richest people, at that—is teasing its inclusion in a high-profile upcoming appearance.

Tesla and SpaceX CEO and co-founder Elon Musk, noted meme aficionado and fan of riling up the DOGE faithful, will host NBC’s long-running comedy series Saturday Night Live (SNL) on May 8. Early this morning on Twitter, he tweeted out a tease of what to expect: “The Dogefather” and “SNL May 8.”

As is often the case when Musk tweets about Dogecoin, the price surged soon after his latest missive, jumping from a price of $0.26 to over $0.33, according to CoinGecko. The price has since settled a bit, but still sits at about $0.31, a rise of nearly 15% over the last 24 hours.

Musk has been a controversial pick for hosting the live show, but then again, controversy seems to follow the tech leader around. He is vaunted in some circles as a green energy crusader, leading the prominent electric car company and other related projects, plus his SpaceX firm is paving the way for more affordable space travel.

On the other hand, Musk has been criticized for a wide array of comments. He has denied the lethality of COVID-19 and defied shelter-in-place orders, and called a British diver who helped save a kids’ soccer team a “pedo guy” (which led to a court case; Musk won). That’s just the tip of the iceberg for comments that have landed Musk in hot water, and it’s why some are wary of what he’ll say when given a very mainstream platform on a popular TV show.

For DOGE holders who have seen the impact of Musk’s words on the price of the coin, however, it’s potentially another opportunity to spread the gospel of the surging coin. Doge Day might have disappointed, but Dogecoin holders might still get their day on May 8 if Musk delivers on his Saturday Night Live tease.

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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