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Dogecoin plummets 23% after Elon Musk jokes about gifting it to mother Maye on Saturday Night Live

Dogecoin is trading at $0.55, according to Coindesk. The price is down 23% on a 24-hour basis.

May 10, 2021 / 08:34 AM IST
Elon Musk. (File Image)

Elon Musk. (File Image)

Dogecoin price plummeted as much as 23 percent as Tesla CEO delivered his monologue at the Saturday Night Live (SNL) television show.

In his much-anticipated monologue, Musk did not mention Dogecoin, causing a sharp fall in the price of the cryptocurrency.

Read: What is Asperger’s syndrome? Elon Musk reveals on Saturday Night Live he suffers from this disorder

However, when his mother, Maye Musk, who joined the show on the occasion of Mothers' Day, said, "I’m really excited for my Mother’s Day gift. I just hope it’s not dogecoin", Musk said, "It is".

At the time of writing this, Dogecoin is trading at $0.55, according to Coindesk. The price is down 23% on a 24-hour basis.

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Musk's favourite cryptocurrency Dogecoin has gone up more than 130-fold this year.

The 49-year-old Tesla CEO, SpaceX founder and one of the world’s richest men opened his monologue by mocking his monotonal speaking style, saying no one can tell when he's joking.

Also read: Elon Musk shows humility and hubris as Saturday Night Live host

“It’s great to be hosting 'Saturday Night Live,' and I really mean it,” said Musk standing on the stage in a black suit with a black T-shirt. “Sometimes after I say something, I have to say that I mean it.”

He added, in explanation, that he is the first person with Asperger's syndrome to host the show. “Or at least the first person to admit it,” he said. It may have been the first time Musk has publicly said he has the mild form of autism.

Over the last couple of weeks, Musk has been dropping cryptic messages about his performance with tweets such as "The Dogefather" and "Woke James Bond". Thus, crypto fans have been anticipating a performance involving Dogecoin.
Moneycontrol News
first published: May 9, 2021 11:19 am

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