Appearing in a television comedy series began the downhill of dogecoin.
The history of Dogecoin is eventful. AOP
The value of the cryptocurrency dogecoin approached an all-time high of $ 0.72 in May 2021. Meme currency fans believed Elon Muskin appearing on Saturday Night Live will raise the value of the currency to the skies, writes Decrypt.
The wishes of the Dogecoin enthusiasts did not materialize. The cryptocurrency is currently worth just over $ 0.05. After the Musk TV show in May last year, the drop has come to almost 91 percent.
On Saturday Night Live, Musk performed several monologues and jokes referring to dogecoin. Several of these were mocking meme currencies. Musk said the dogecoin during the Weekend Update show was a scam.
The value of Dogecoin began to decline as the program was broadcast on television. More than 20 percent of the value was wiped out in one hour. People sold dogecoin at such a fierce pace during the broadcast that the trading app in Robinhood experienced momentary malfunctions.
Last fall, the currency leveled off at around $ 0.25, after which it has fallen at a steady pace. Last month, the dogecoin dived below $ 0.10 and is currently worth about five cents in euros.