As Tesla CEO Elon Musk delivered his monologue on Saturday Night Live (SNL), the price of Dogecoin plummeted by as much as 23%. Musk did not mention Dogecoin in his much-anticipated monologue, causing the cryptocurrency's price to plummet. According to Coindesk, Dogecoin is trading at $0.55 at the time of publishing. On a 24-hour basis, the price has dropped by 23%.
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".
This year, the value of Musk's favourite cryptocurrency, Dogecoin, has increased by more than 130-fold. The 49-year-old Tesla CEO, SpaceX founder, and one of the world's wealthiest men began his speech by insulting his monotonous speaking style, claiming that no one can tell when he's kidding.
“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 went on to say that he is the first person to host the show who has Asperger's syndrome. “Or, at the very least, the first to admit it,” he said. It may have been Musk's first public admission that he suffers from a moderate type of autism. Musk has been tweeting cryptic messages about his success in recent weeks, using phrases like "The Dogefather" and "Woke James Bond." As a result, crypto enthusiasts have been anticipating a Dogecoin success.