Meme-based Crypto, Doge’s Price Falls as Elon Underwhelms

May 10, 2021


Since Tesla’s head and self-proclaimed CEO of dogecoin, Elon Musk tweeted a month ago that he would have Saturday Night Live on May 8, the energy level encompassing the image-based digital money climbed to considerably more astronomical levels in the number one spot up. Musk, through his appearance, was obviously going to some way or bring attention to the Shiba Inu-represented image coin to the majority and push the price of the cryptographic money to Mars and the past. 


Recently, that energy arrived at a crescendo with the price of dogecoin hitting a record-breaking high of 74 pennies, up over 15,000% year to date. In the wake of offering back certain additions yesterday after Barry Silbert reported he was shorting dogecoin, energy again mounted as SNL’s 11:30 p.m. ET start approached, with DOGE moving back to 70.18 pennies each. While some benefit taking was inevitable, to forestall a sell-off the dogearmy required Musk to accomplish something very large. He didn’t. Dogecoin was never going to supplant the U.S. dollar as the worldwide save cash dependent on this exhibition. 


In that capacity, nearly from the occasion, Musk showed up in front of an audience unaccompanied by 100 Shiba Inus and a groveling Janet Yellen and Jerome Powell, the price of dogecoin began falling. When SNL finished early Sunday ET, dogecoin was under 56 pennies, a drop of over 20%. By 9 a.m. ET had reached as low as 41.8 pennies, alongside more than $20 billion in market cap. 


Additionally, a Canadian-based organization is utilizing the Shiba Inu-addressed digital currency to pay SpaceX to take a satellite there. Considering it the principal ever commercial lunar payload in history paid altogether with dogecoin, Geometric Energy Corp. said the DOGE-1 Mission to the Moon will launch onboard a SpaceX Falcon 9 rocket in Q1 2022.



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