Dogecoin falls back from its moon mission over the weekend
06:45, 10 May 2021
While some cryptocurrency analysts had expected Elon Musk’s Saturday Night Live (SNL) appearance to fire Dogecoin higher, the digital currency plunged almost 25% within minutes’ of Musk’s SNL appearance.
As of early Monday, the value of Dogecoin is barely unchanged since 4pm Friday afternoon at around $0.52, despite soaring to 0.72% on Saturday afternoon (again), UK time, equivalent to a market cap in excess of $90bn.
Mother’s Day gift ‘underwhelming’
Musk was also asked by the SNL anchors to say exactly what super-volatile currency Dogecoin was. Musk delivered a variety of answers, including “It’s a hustle…to the moon”.
SNL also saw Musk introduce his mother Maye to YouTube viewers (it was screened live on the channel), who expressed interest in her Mother’s Day gift (for Sunday 9 May in the US). “I am excited for my Mother’s Day gift. I just hope that it’s not Dogecoin,” she told Musk.
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Ethereum and Cardano lift higher
Musk, in a tweet, says SpaceX will now take dogecoin as payment, adding it will launch “DOGE-1 Mission to the Moon” in early 2022.
Earlier this morning Bitcoin was trading at $59,081, up almost 2% in the past 24 hours while Ethereum was trading 5% higher at $4,121. There was also a 5% gain for Cardano to $1.81. Both Ethereum and Cardano are up almost 35% in the past seven days.
The biggest lifts in the past 24 hours are taken by Telcoin and Litecoin, up 19.92% and 16.38% respectively.
Trade DogeCoin to US Dollar – DOGE/USD CFD
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