Dogecoin dropped ahead of Elon Musk’s appearance on “Saturday Night Live.”
The cryptocurrency fell almost 8% in the past 24 hours at 7:20 p.m. in New York, according to Coindesk. The world’s second-richest person helped drive the coin to a record on Friday after tweeting a picture of himself and a Shiba Inu on the set of the iconic NBC show.
Dogecoin, a cryptocurrency that started as a joke in 2013, has surged more than 13,000% this year, according to Coindesk. Musk has been among its biggest boosters, along with Mark Cuban, Snoop Dogg and Gene Simmons.
Musk tweeted earlier on Friday that cryptocurrencies are “promising, but please invest with caution,” while linking to a video that showed him talking about the merits of crypto, particularly Dogecoin. That follows months of Twitter posts from Musk about the likes of Bitcoin and Dogecoin, almost all favourable.
Musical guest Miley Cyrus wasn’t taking the host’s obsession with the coin too seriously, according to a tweet she posted on Saturday.
This story has been published from a wire agency feed without modifications to the text.
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