A comment by Tesla CEO, Elon Musk, during his appearance on Saturday Night Live has led to the fall of cryptocurrency, Dogecoin, by 22 per cent on Saturday.
During the show, his mum, Maye Musk, had revealed her anticipation for the gift the Tesla CEO was going to get her for Mother’s Day.
“I’m excited for my Mother’s Day gift,” Maye Musk said. “I just hope it’s not dogecoin!”
“It is,” Elon Musk said. “It sure is.”
Before the show, Dogecoin which traded at 70 Cent at the start of Saturday dropped to 54 Cents by the end of the day.
Musk, the world’s second-richest man has been a major promoter of Dogecoin which is the fourth-biggest cryptocurrency in the world.
A tweet from him to his over 50 million followers usually sees a rise in the activities of Dogecoin. According to him, Dogecoin is “the future of currency, it’s an unstoppable financial vehicle that’s going to take over the world.”