The Tesla CEO and Bitcoin buyer’s latest tweet, promoting DOGE and his SNL appearance, helped the altcoin surge 25%.
Live, from New York: it’s Elon Musk pumping Dogecoin!
The Tesla/SpaceX CEO and Dogecoin memer-in-chief just about guaranteed the “joke” cryptocurrency is going to “moon” on the weekend when he hosts Saturday Night Live.
Elon Musk’s five-word tweet — which was technically pumping his upcoming appearance on Saturday Night Live — reads “The Dogefather SNL May 8.”
Predictably, DOGE promptly jumped from $0.25 to $0.30 in 10 minutes, topping out at $0.33 about three hours after the tweet. At this writing it’s back down to $0.30, still well below its April 16 high of $0.4377.
Musk’s previous Dogecoin tweets have — usually — sent the shiba inu-themed coin soaring, something it shares with Bitcoin, which Musk’s tweets have pumped regularly. (Although not as much as Tesla’s $1.5 billion BTC investment, which it revealed in this week’s quarterly earnings report had spiked to $2.72 billion by the time it sold off 10% in March.)
This makes Musk’s value as a Dogecoin booster far above that of the NBA Dallas Mavericks owner and “Shark Tank” investor Mark Cuban.
Cuban Talks DOGE on Ellen
Cuban acted as a Bitcoin/Ether/Dogecoin booster in an April 27 appearance on the talk show Ellen, telling host Ellen DeGeneres that while BTC “is a digital version of gold” and ETH “a digital version of a currency, Dogecoin “is just fun.”
However, he added that it has gone from being a joke cryptocurrency to one that is starting to become a real digital currency with actual utility.
He also added that his 11-year-old son Jake has bought $30 of DOGE — something the billionaire shares with Musk, who boosted Dogecoin’s price on February 10 after tweeting that he had bought some for his infant son, making X Æ A-12 into the first “Toddler Hodler.”
Cuban also talked to DeGeneres about NFTs — which she dabbled in the day before his appearance, selling a number of pictures of herself with a poorly drawn cat and attendant video monologue on NFT marketplace Bitski.
She met with less success than Disaster Girl and Beeple, with five of the 10 gold editions of “Woman With Stick Cat” still unsold at $2,500. The 64 silver editions sold out at $100, while the platinum-level one-off went for $14,555 at auction. The sales benefited celebrity chef José Andrés’ World Central Kitchen, a post-disaster food relief charity.