Those hoping to cash in on Dogecoin in connection with Elon Musk’s “Saturday Night Live” hosting gig this weekend got an initial setback, according to a report.
The cryptocurrency – touted by Musk and NBA team owner Mark Cuban, among others – dropped from a value of 70 cents to 55 cents following a mention during Musk’s “SNL” opening monologue, according to Darren Rovell, a reporter for Action Network.
“I’m excited for my Mother’s Day gift,” Musk’s mother, who appeared with him on the show, said. “I just hope it’s not Dogecoin.”
Later, business journalist Marcus Baram further noted the hit Dogecoin was taking during the show.
Later on “SNL,” Musk joked about Dogecoin during the show’s “Weekend Update” segment.
During the week, as he helped NBC hype up his “SNL” appearance, Musk referred to himself as “The Dogefather” in a Twitter message.
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