Stock

: Dogecoin Prize Flops as Elon Musk hosts "Saturday Night time Reside"

Dogecoin cryptocurrency prices fell overnight when Tesla Inc.
TSLA,
+ 1.33%
Elon Musk, Chief Executive and Crypto Bull, hosted Saturday Night Live.

His support for Dogecoin was a rallying point for the Doge community, who had been eagerly anticipating its appearance, but Dogecoin holders who had hoped his mention of the digital currency on national television would raise the price towards $ 1 were disappointed . After a high of around 70 cents just before the broadcast of "SNL", Dogecoin
DOGEUSD,
-37.05%
Prices dropped to 47 cents at the start of the show before recovering at around 55 cents at 2 a.m. in the east.

Before: Dogecoin approaches 75 cents and then slips when the crypto pioneer saw Silbert bet for spoof coins ahead of Elon Musk's "SNL" guest host appearance

The online trading platform Robinhood was apparently overwhelmed by crypto traders and crashed briefly.

During the Weekend Update segment, co-anchors Michael Che and Colin Jost pushed a fictional financial expert named Lloyd Ostertag, played by Musk, to explain Dogecoin. His efforts are unsuccessful: "OK, but what is Dogecoin?" the constant refrain is the anchor. Finally, at Che's suggestion, they come to the conclusion that Dogecoin is just "a hassle".

Musk's hosting appearance was the subject of many acts of criticism that led to the show. How did he do it? He largely assumed his awkwardness and made fun of not only Dogecoin but his Martian ambitions and tunnel tendencies too. He even said he was wrong about not believing in masks last year. See most of the sketches for yourself (NBC hadn't tweeted Musk's last sketch of playing a futuristic cowboy early Sunday morning):

Mark DeCambre contributed to this report.

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