After weeks of speculation amongstfollowers, this weekend didn’t lead to the Dogecoin rate spike lots of expected.
In the days and weeks leading up to Musk’s much-anticipated gig as SNL host, Dogecoin’s rate started surging greatly. In January, Dogecoin was priced at around 1 cent. Simply
In 2021, Elon Musk started tweeting about Dogecoin, becoming its highest-profile advocate and assisting drive a cost spike for the cryptocurrency. It’s difficult to associate the Dogecoin rate boost entirely to Musk’s set up look on SNL, however lots of appeared to be purchasing the cryptocurrency in anticipation of a possible Dogecoin name dropWhen he brought his mommy Maye on phase throughout the opening, she got in a Dogecoin joke. “I’m delighted for my Mom’s Day present. I simply hope it’s not dogecoin,” Musk’s mom stated.
The Dogecoin referrals continued when the Tesla and SpaceX CEO played bowtie-wearing Dogecoin specialist Lloyd Ostertag on Weekend Update, however the expected rate boost didn’t included the character.
In reality, the opposite happened. Throughout the last hour Dogecoin’s rate dropped from around 66 cents to simply listed below 50 cents. It later on made a moderate healing back to around 55 cents.
Thinking about the integrated volatility of cryptocurrency, and the remarkable rate spikes since late, some sort of crash isn’t unexpected, however lots of expected the rate would press up with Musk’s look on SNL, not drop. Fans of Dogecoin were hoping his look would press the rate towards a dollar however that does not seem occurring.
However provided the nature of cryptocurrency, the Dogecoin rate might recuperate next week.