Today is the anniversary of Elon Musk on SNL and Dogecoin of All Time: Here’s what has happened since then

May 8 will enter as an important day in the history of cryptocurrency, as Dogecoin DOGE / USD reached the peak of all time. That date also coincided with the rare appearance of a businessman in the sketch comedy show “Saturday Night Live”.

What happened: Tesla Inc. TSLA CEO Elon Musk hosted an episode of “Saturday Night Live” on May 8, 2021. The episode aired on NBC, the unit Comcast Corporation CMCSA and can also be seen in many international markets on YouTube, the unit Alphabet Inc. GOOGGOOGL.

During the episode, Musk played the role of financial expert Lloyd Ostertag, who shared some educational facts about cryptocurrencies with the host of the “Weekend Update” Michael Che.

“They are a kind of digital money, but instead of being controlled by the central government, they are decentralized using blockchain technology,” Musk told the Ostertag to Che about cryptocurrencies.

Ostertag asked to be called “Dogefather” in the sketch, and Cheu later explained what Dogecoin was.

“Well, it actually started as a joke based on an internet meme. But now it has been taken in a very real way. “

As co-hosts of Che and “Weekend Update”. Colin Jošt he continued to ask Ostertag to further explain Dogecoin, he shared more about the role that cryptocurrency will play.

“It is an unstoppable financial vehicle that will rule the world. For mooooon! ”

One item that might surprise viewers is Ostertag who answered in the affirmative to the question of whether Dogecoin was crowded.

Dogecoin peaked at $ 0.7375 before the episode aired and fell rapidly after Musk’s appearance, even after direct mention of Dogecoin by name.

Related link: 2021 was the year of Dogecoin: A month-to-month retrospective with top stories

What happened from: The “SNL” episode with Musk remains the top mark for Dogecoin in terms of price. The coin never came close to $ 0.7375 as seen before the episode. Many singled out the event as the best for the coin.

Tesla shares have had pretty good results since Musk’s appearance. Although it was mentioned that Musk helped change the electric vehicle industry during the episode, Tesla’s name was less prominent than Dogecoin.

Tesla shares fell slightly in June and July 2021, before embarking on a massive drive to reach all-time highs of $ 1,243.49 in November 2021. Tesla shares are now trading at $ 865.65 and remain rising of 25% since Musk’s appearance on “SNL” a year ago.

The “SNL” episode hosted by Musk was the third most watched episode of Season 46 with 7.3 million viewers. He was only behind the episodes led by former members of the cast Dave Chappelle and Chris Rock.

Musk is still the richest man in the world, with a current fortune of $ 247 billion, according to the Bloomberg Billionaire’s Index.

Recently, Musk announced that he would take over the social media platform Twitter Inc TWTR for $ 54.20 per share. Coincidentally, the acquisition was ridiculed in a recent episode of “SNL”.

Price Action: Dogecoin is trading at $ 0.1255 at the time of writing, down 83% from its all-time high.

Photo: Created with pictures from Brian Bald and the TED conference on Flickr

Leave a Comment