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Welp, Tesla CEO Elon Musk finally did his “Saturday Night Live” debut as Dogecoin (DOGE) faithful watch both the show and the cryptocurrency’s stock to see if it will finally set foot on the one-dollar territory. Unfortunately, things just went south when the price of the meme crypto took a nosedive.
Dogecoin nosedives
It looks like the Dogefather’s magic has lost its luster this time as the price of the DOGE fell as low as 49 cents which is a 29.5 percent plunge CNBC reports. By the time SNL’s parody newscast, the “Weekend Update,” aired, its price bounced back a bit. As of writing, however, the dogecoin’s price dropped back to $0.498 – a 29.859 percent plunge.
Another Robinhood outage
Meanwhile, on the Robinhood stock trading/investing app, it unfortunately encountered somewhat of an outage which is the last thing they could imagine happening during a mad sell-off. Users of the app took social media as they complained about the platform’s crypto trading feature not working.
Robinhood then posted a tweet addressing the issue and admitted that there was indeed an outage on their end. Its crypto trading feature was up and running in less than an hour.
Users of the trading app might recall when the platform encountered what Robinhood described as “sporadic crypto order failures.” This too, happened during a dogecoin rally.
Dogecoin millionaire’s prediction was spot on
Glauber Contessoto – popularly known nowadays as the first Dogecoin millionaire had a hunch that the meme crypto will take a dip by Musk’s “SNL” appearance. In his recent upload on his YouTube channel, he answered the question as to whether he’ll sell or hold on to his DOGE that is now worth millions.
Contessoto (a.k.a. The Dogecoin Millionaire) said he’ll be holding on to it in his video. He said, “we’re not sellin’, alright. We’re like Leonardo DiCaprio on that meme, we’re not selling, okay.” He explained that he’s “holding on for the long run” believing that the Dogecoin is the future. Further, he said (this before the airing of the ‘SNL’ episode), “you watch that dip go, and you laugh at it and you buy some more” before making it clear that such statement is not a piece of financial advice.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
