After Elon Musk called it a “hustle and bustle” on Saturday night, the price of Dogecoin fell by a third

doge coin

When Elon Musk, Tesla CEO and cryptocurrency supporter, was on the comedy host’s scene on Saturday night, the price of Dogecoin fell by more than a third. ] Comedy sketches for television shows. The Dodge Coin price was as low as $ 0.416 (roughly Rs.30), cryptocurrency exchange Binance, which was 36% lower than the $ 0.65 level (roughly Rs.50) before the show, and returned later on Sunday. 

From the trend, the latest transaction price is approximately US $ 0.569 (approximately Rs 40). The billionaire CEO of Tesla hosted the SNL show at 11:30 a.m. (Sunday 9:00 a.m.) EST on Saturday (Eastern Standard Time).

What is $DOGE coin ?

— cryptoafricaedu (@cryptoafricaedu) May 9, 2021

Cryptocurrency enthusiasts have been itching for a few days to see what he will say after tweeting, and this year he turned the once-obscure digital currency (originally a social media joke) into a speculator’s dream. Musk replied: “This is the future of the currency. This is an unstoppable financial instrument that will take over the world.” 

When actor Michael Che replied, “So is this a hustle?” Musk replied, “Yes, very busy.” Laughing. His appearance on the iconic late-night show brought Musk back into the spotlight, just as Tesla’s stock lost momentum after last year’s monstrous rally. The unconventional CEO posted a lot of comments about cryptocurrencies on Twitter and criticized the negative effects of regular cash. He said in February: 

“Only fools will not look elsewhere.” His mysterious tweet The text “Doge” and “Dogecoin is the people’s cryptocurrency” kicked in the Dogecoin rally that month. More conventional Bitcoin and Ethereum. On Thursday, Musk wrote on Twitter: “Cryptocurrencies are promising, but invest carefully!” He attached a video to the video and said: “At this point, speculation should be considered.” 

But he also said that in the video, the cryptocurrency is likely to become what he called “the future currency of the earth.” “Given its ability to change its price, some financial commentators questioned whether Musk commented on the cryptocurrency.” I think it’s interesting … you can say anything you want to say about Dogecoin. 

Or the cryptocurrency is fully aware that what it says can change the price, “said James Angel, associate professor at Georgetown University’s MacDonald School of Business, who specializes in financial markets and cryptocurrencies.” Anyone Who Wants Anyone Playing Elon Musk’s Game Should “A large amount of sales appears to be causing problems for popular retail platform Robinhood, which tweeted early Sunday that due to high transaction volume and volatility, some customers found “intermittent issues.” 

The company then stated that the issue has been resolved and will contact customers affected by the downtime. On the encrypted data tracker, Dogecoin jumped last month Over 800%, has become the fourth-largest digital currency with a market value of 73 billion US dollars (approximately Rs. 532.62 billion). 

Tesla hit a record high of 0.73 US dollars (approximately 50 rupees) on Thursday. February, Tesla stated that it had bought Bitcoin worth 1.5 billion US dollars (approximately 110.02 billion rupees) and soon or accept it as payment. for your electric cars. This is a major transaction step towards mainstream acceptance, causing Bitcoin to soar to a record high of nearly 62,000 US dollars (roughly 45.5 million rupees). 

Tesla shares closed up 1.3% on Friday at $ 672.37 (roughly Rs 49.00). The Dogecoin sell-off was due to speculative activity Musk has not compromised its long-term prospects. “Doggo’s long-term fundamentals are intact. This is an opportunity to buy, “said Zhu Hanhan, managing partner at Kenetic Capital, a Hong Kong blockchain venture capital firm.” This is a real social currency, and this is its value. “

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