(GNB Desk)- Widely known “Dogefather- Elon Musk, the CEO of Tesla and SpaceX, has been a key proponent in the latest rocketed value of dogecoin, according to analysts, as he consistently tweets about the cryptocurrency.
Elon Musk, the “Dogefather” is all set to be a guest-host on Saturday Night Live (SNL) television programme. The much-anticipated appearance is set to be a potentially market-moving event for his favorite cryptocurrency, Dogecoin.
Based on the “Doge” meme and started as a “fun” alternative to Bitcoin, Dogecoin’s value has risen phenomenally ever since Musk started to endorse it. And it was no different this time as well, with Dogecoin traders worldwide organizing watch parties for Musk’s appearance.
SNL also informed that 100,000,000 DOGE will be distributed among everyone who takes part in the BTC streaming event. Promoting “crypto mass adoption,” they stated that Musk is hosting a 5000 BTC giveway during the show.
So, as the “dogefather” — a name Musk himself came up with — is all set to make an appearance in the late-night comedy show, people are celebrating it nearing the dollar mark through hilarious memes. On Twitter, #DogeCoinTo1Dollar and #DogecoinRise dominated trends worldwide.
But ahead of his appearance on “Saturday Night Live” on NBC on May 8, Musk had a new message for his 53 million Twitter followers.
“Cryptocurrency is promising,” Musk wrote on Friday, “but please invest with caution!”
Musk also shared a video interviewed with TMZ in February, where he expressed his opinion.
“People should not invest their life savings in cryptocurrency, to be clear,” Musk told TMZ. “That’s unwise.”
But, he said in the interview with TMZ, “if you want to speculate and have some fun — there’s a good chance that crypto is the future currency of Earth. Then it’s like, which one is it going to be? Maybe there will be multiple. But, it’s all speculation at this point.”
In the past, Musk has kept to tweeting memes about dogecoin. Tesla, however, bought billions of dollars worth of bitcoin and accepts the cryptocurrency as payment for its vehicles.
Dogecoin, the meme cryptocurrency known for its Shiba Inu dog face meme, has rocketed from years ago, has a market capitalization of about $86 billion following a six-month climb of nearly 25,000 percent.
Dogecoin is a cryptocurrency created by software engineers in 2013 who sought to build a payment system that would be fast, friendly and fun.
It goes by the ticker DOGE and the symbol “Д and its name derives from the Japanese “doge” meme. Billy Markus and Jackson Palmer, the co-founders, have since distanced themselves from the silly project due to what they called a “toxic” shift in the crypto world.
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