Dogecoin has crashed 75% against Bitcoin since Elon Musk's SNL appearance
Dogecoin (DOGE) may be back in the top-ten cryptocurrency by market capitalization, but its loses in both USD and Bitcoin (BTC) terms since Elon Musk's SNL appearance are considerable. The DOGE/BTC trading pair has fallen 75% after peaking out at 1,287 satoshis on May 9, 2021, a day after Musk was a guest host on Saturday Night Live.
Investors reflected hopes that even an optimistic wink from Musk on SNL toward DOGE would prompt his 106 million followers to buy the meme-token. But Musk did an unforeseeable thing: he called Dogecoin a "hustle.". One day later, DOGE's price began its decline from its all-time high. It continues its downtrend to this day, changing hands for about 300 satoshis versus its peak value of 1,287 satoshis. Simultaneously, the price of Dogecoin has crashed by more than 90% against the U.S. dollar after peaking out at $0.76 in May 2021.
Source
@Doge_ShibaInu
