The meme-based cryptocurrency has always had a fair share of push when it comes to the tweets sent out by Elon Musk promoting Dogecoin and what it stands for. This ended up bringing a solid price rally for Dogecoin, and it was always a real treat for the regular traders. Something similar was expected of Musk’s SNL (Saturday Night Live) debut, where he was to host the evening specifically talking about Dogecoin. The rally in digital asset’s overall trading and price boost didn’t pan out as intended, and the bullish run doesn’t seem to be on Dogecoin’s side for the time being. To better understand why it is, you need to understand what happened on Elon’s SNL debut.
Musk Explains about Dogecoin on SNL Platform
Musk’s mother also accompanied him over at Musk’s SNL debut in a surprising turn of events. During the comedy monologue of Musk on the comedy show, his mother briefly joked to his son about how she hoped that she would not be receiving any Dogecoin on the upcoming Mother’s day. This little speech was given a fair applaud and cheers from the audience and then began the real deal of Musk giving out his professional and financial opinion on how Dogecoin is doing at the moment and what investors and traders could expect in the upcoming weeks. Surprisingly enough, after the SNL episode finished and was aired, seen by many, and talked about by the experts, Dogecoin’s price dropped consistently, which was nothing short of a hard blow no one could see coming.
Elon Musk also came about the performance of other cryptocurrencies such as Ethereum and Bitcoin and how these are seeing an uptick in their price every other day, but Dogecoin isn’t. When asked, ‘What is Dogecoin?’ Musk only managed to state the obvious such as how the trading goes with it and the reserves that are being traded every day for Dogecoin; he said that it is as real as the US dollar and also ended up calling Dogecoin a hustle. If all of this was Musk’s idea of getting enough financial support and pouring for Dogecoin through his SNL debut, then it just doesn’t seem to be working at the moment.
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