This past episode of SNL saw the ‘dogefather’ himself attempt to entertain the nation on his celebrity spot of the legendary comedy show. We have been speculating about what element of DOGE he would bring to the show and wondered if this could lead to yet another spike in price. The spike in price would appear though more than we could have reasonably expected for now at least as on the weekend the price of Dogecoin took quite a tumble although the price has since recovered.
The performance of Elon Musk was largely met with negative reviews. Not in the sense that he came across as unlikeable but in the sense that he is well known for being quite awkward which is far from the idea when you are trying to sell a comedy monologue. The opening gambit saw one of the more enjoyable segments he took part in as he gave his mother a present for mother’s day where the mother quipped, ‘I just hope it’s not dogecoin’.
He also told viewers that he has asperges’s, a condition that can make participating in social circles particularly challenging. Unfortunately for DOGE holders, there was no moment that would lead us to expect that half of the U.S would open up their laptops and buy some immediately.
Despite the huge drop in price the coin is still holding up and still at the time of writing sits at number 4 in the coins with the highest market cap. The question now for interested investors is, does this represent a great time to buy or does DOGE need to have an even bigger fall from grace? And if so will it ever recover?
We don’t sugarcoat things on this site and we have always clearly stated that buying Dogecoin is one of the riskiest investments you could make in the crypto industry. This became even more true during this latest rise in price which blew every other altcoin out of the water. We always advise that you do your own research and understand that DOGE is one of the rare coins that can realistically see profits of 100% in one day but with this comes its traps.