Ahead of its biggest supporter’s Saturday Night Live appearance, the Dogecoin surged to 0.39 but failed to reclaim its all-time high. Despite this, the coin, which originally started as a joke, is now among the best performers in the crypto market.
According to the latest data, the meme coin added billions of dollars into its market cap after Musk took to Twitter and wrote: “The Dogefather” along with his SNL date. However, the America’s famous billionaire did not reveal anything else in his tweet, triggering numerous speculations across the social media platform.
— Elon Musk (@elonmusk) May 1, 2021
On May 8, Musk is all set to host his SNL show, with supporters of his favorite coin, hoping that it would bring the Dogecoin into pop culture. Although, for the most part, Musk’s tweets about the joke coin are fun, the exchanges seem to treat them pretty seriously.
Interesting enough, if you are wondering how people manage to buy the crypto asset following mentions from Elon Musk, the answer is that bots are mostly making the purchase. Developers familiar with Musk’s tweeting habits have come up with a program that automatically purchases the coin following a mention from the billionaire.