This Is the Elon Musk Dogecoin Moment the Fanboys Were Waiting For
One of the most anticipated and hyped moments of Tesla and SpaceX CEO Elon Musk’s appearance on Saturday Night Live this weekend was the possible, and highly probable, mention of Dogecoin, the meme cryptocurrency the tech billionaire has helped inflate to record highs.
Musk, who hosted the internationally broadcast show on Saturday, talked about Dogecoin in a “Weekend Update” sketch in which he played financial expert Lloyd Ostertag.
The self-proclaimed Dogefather then proceeds to describe how cryptocurrencies work and states that, lately, prices for cryptocurrencies, especially Dogecoin, have been soaring. Weekend Update co-anchor Michael Che then presses Musk to explain what Dogecoin is, a question many of us have asked ourselves in recent months.
The tech billionaire states that Dogecoin started out as a joke based on an internet meme, but it’s taken off in a real way.
After a bit of back and forth, Musk finally appears to break down Dogecoin in a way the anchors on the Weekend Update can understand. Although it was a comedy sketch, Musk finally seemed to recognize what (real) financial experts have said about Dogecoin all along.
Ironically, but not unsurprisingly considering that cryptocurrencies are volatile, Dogecoin was down 40% early Sunday, or as low as 44 cents according to CNN, after the Dogefather talked about it on SNL.
Besides mentioning Dogecoin, it was highly likely that Musk would talk about another one of his many obsessions, Mars, especially considering SpaceX’s recent Starship success this past week.
On Wednesday, the company successfully landed a prototype of the Starship rocket it will use to take astronauts back to the Moon and one day take humans to Mars.
Musk oversees a brave but absent-minded colonist named Chad (Pete Davidson) outside of the colony to turn on the backup oxygen circulator.“Chad, I want to make sure you understand that you won’t survive this mission,” Musk said.