Dogecoin (DOGE), the meme-based cryptocurrency that is Elon Musk’s pet, has a new history for his award-winning memoir – Musk’s appearance on Saturday Night Live.
On Twitter on Wednesday, Musk referred to himself as “Dogefader” as he prepares to host the May 8th of the popular US TV show.
Musk is known for his exciting PR moves when it comes to Dogecoin, with social media posts often providing price increases that have also been linked to Bitcoin (BTC).
A familiar scenario for Dogecoin fans, Musk’s latest round of ads immediately sparked a backlash with the DOGE / USD ratio, which is up 20% in hours at the time of writing.
The previous drop in bitcoin prices cost the altcoin sector dearly, as DOGE fell below its all-time high of $ 0.47.
The rally was also driven in part by Musk, who has vowed to “literally send Dogecoin to the moon” with the recent launch of the rocket from one of his companies, SpaceX.
Last week, as part of an impromptu “holiday” called Dogecoin Day, an attempt was made to raise DOGE’s price to a fabulous $ 4.20 via launch, which was ultimately well below expectations.
1 day light chart for DOGE / USD (Bittrex). Source: TradingView
An analyst closely monitors the strength of altcoins
However, in its latest tweet, DOGE immediately ranked in the top three of the daily move with a 20% gain to $ 0.32, beating Ether (ETH), which just posted new full-time points.
Meanwhile, Bitcoin continued to hesitate and failed to consolidate $ 55,000 to support a boon for those expecting an “all-season 2.0″ continuation.
“This recent rebound in the alternative currency market value is more severe than the recovery from the recovery in February,” the popular Twitter account Rekt Capital commented on Tuesday, as it compared the various withdrawals in 2021.
Even the actual path for April is 17% shallow than it was in February. These are all signs of a lot of interest in digital currencies in general. ”
Movement of an alternative currency market value chart. Source: Rekt Capital / Twitter
The unfounded rumors that Facebook will announce BTC’s offer for the quarterly earnings to be paid later in the day gave some optimism that contrasts with sentiment.