A history of Elon Musk's love affair with Dogecoin, from a crypto-themed SpaceX mission to the moon to a Twitter spat with one of its creators
Dogecoin didn't really take off until 2021 when it followed GameStop's rally.But, instead of WallStreetBets, it was SatoshiStreetBets. In the group, users said they planned to send the currency"to the moon" — or at least to $1 per coin.In the spring of 2021, the crypto coin surged to an all-time high of 69 cents — up from less than 1 cent per coin in January of that year.
Prior to the show, Musk had tweeted about Dogecoin multiple times, including a post in January of a"Dogue" magazine that was designed to imitate Vogue.He also posted a meme of himself holding up a Shiba Inu in the style of Disney's"The Lion King" in February 2021.Musical guest Miley Cyrus, host Elon Musk, and Cecily Strong shoot a promo in Studio 8H on May 6, 2021Dogecoin dropped 36% the morning after his appearance on the comedy sketch show.
Musk mentioned the crypto coin several times throughout his set, but on the Weekend Update portion of the show he posed as a financial expert attempting to explain the mania around Dogecoin.
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