+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.00
+ 0%

Dogecoin Hits Another All-Time High Just Below 45 Cents Amid Elon Musk-SNL Speculation

May 3, 2021 9:14 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Dogecoin Hits Another All-Time High Just Below 45 Cents Amid Elon Musk-SNL Speculation

Dogecoin (DOGE) hit an all-time high of nearly $0.45 on Monday night, days ahead of Tesla Inc (NASDAQ:TSLA) CEO Elon Musk’s scheduled appearance on “Saturday Night Live” where the joke cryptocurrency is expected to feature.

What Happened: The Shiba Inu-themed cryptocurrency hit an all-time high of $0.4499, before retreating 9.4% as of press time. 

DOGE is up 6.92% in a 24-hour period and traded at $0.41 at press time. It has shot up 56% on a seven-day trailing basis.

The apex cryptocurrency Bitcoin (BTC), which hit an all-time high last month of $64,863.10, last month traded 1.31% lower at $56,620.90. BTC has since fallen 12.77% since its all-time-high levels.

See Also: How to Buy Dogecoin (DOGE)

In terms of year-to-date returns, the meme coin has far outpaced the largest cryptocurrency by market capitalization. 

DOGE has returned 9,216.98% since 2021 began, while BTC’s returns comparatively pale at 96.61%.

Ethereum (ETH) continues to shoot for new highs as well, crossing the crucial $3,000 mark on Monday. At press time, it is up 10% at $3,296.25, recording its highest price against BTC since July 2018 at about 0.9595.

Why It Matters: On Monday, Musk remarked on Twitter that “the DOGEFATHER” would “definitely” feature in the comedy and variety show that airs on the Comcast Corporation’s (NASDAQ:CMCSA) NBC.

The DOGEFATHER is a portmanteau of Dogecoin and the cult classic “The Godfather.” 

The buzz surrounding DOGE has pushed it to become the fifth-largest cryptocurrency by market capitalization, which at press time stood at $53.06 billion. Stablecoin Tether (USDT) now sits below Dogecoin with a $42.17 billion market capitalization.

Brokerage eToro, set to go public in a SPAC deal with FinTech Acquisition Corp V (NASDAQ:FTCV), also announced Monday it was adding Dogecoin trading to its platform.

Read Next: How Dogecoin May Become A Usable Currency Like Any Other, As Per Mark Cuban


Related Articles

How To Watch And Stream Elon Musk On 'SNL'

One of the most anticipated television events of the year is happening late Saturday with Tesla Inc (NASDAQ: TSLA) CEO Elon Musk appearing as the host of comedy show "Saturday Night Live." read more

If You Invested $100 When Elon Musk First Tweeted About Dogecoin, Here's How Much You'd Have Now

One of the most popular voices behind the meme cryptocurrency that is Dogecoin (CRYPTO: DOGE) is Tesla Inc (NASDAQ: TSLA) CEO Elon Musk. read more

Elon Musk Says Something On Dogecoin Will 'Definitely' Feature In His SNL Episode

Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk suggested Sunday that meme cryptocurrency Dogecoin (DOGE) as a topic will "definitely" feature in his “Saturday Night Live” appearance on May 8. read more

Could Elon Musk's 'SNL' Hosting Cause A Bump In Tesla Or Dogecoin?

An appearance by the executive of a publicly-traded company on CNBC or another business-related news channel can sometimes move the share price fast. If the show airs outside the trading hours, it can sometimes have less of an effect on the share price. read more