Dogecoin is less than 90% from SNL Elon Musk’s appearance

Dogecoin is less than 90% from SNL Elon Musk's appearance

Dogecoin, the most popular cryptocurrency meme, is up 26% in the last 24 hours, still far from the highest level ever.

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Whale moves Dogecoin to Robinhood

Someone moved around 250 million dogecoins during the recent crypto crash, with just over half the amount going to Robinhood. The @DogeWhaleAlert account, which monitors major Dogecoin transfers, discovered two total transactions of more than 100 million Dogecoins.


The two DOGE transactions totaled 110,614,220 and 139,261,848 memes worth $ 8,497,274 and $ 11,625,997, respectively. The second Dogecoin payment was made through the popular Robinhood trading app. It allows users to invest in stocks and cryptocurrencies like Bitcoin, Ethereum, Solana, DOGE, Shiba Inu, Bitcoin Cash and other significant coins.

After Bitcoin crashed to $ 27,000 and lost a dollar peg UST Terra, Dogecoin Up 26% over the last 24 hours and is now trading at $ 0.09 again.

Previously, DOGE faced a sharp decline and lost about 30% on a daily basis.

DOGE has crashed since Elon Musk hit TV

DOGE fell 90 percent from an all-time high on May 8 last year. After Elon Musk called himself “The Dogfather” on Twitter and then appeared on the Saturday Night Live (SNL) comedy show, the meme base rose to $ 0.7376.

DOGE / USD is down 90% since Musk appeared on SNL. Source: TradingView

However, the appearance of Tesla CEO Elon Musk on American television sparked a big sale. The token dropped to $ 0.45 three days later.

Musk has long been a supporter of Dogecoin. He often promotes the cryptocurrency in his tweets, which increases its value. However, over time, these tweets began to have less and less of an impact on the price of Dogecoin. Meanwhile, they barely move DOGE at all.

The electric car company Tesla began accepting Dogecoin as payment for certain items in its online store in January 2022. Musk wrote on Twitter, it’s an experiment and he wants to see how it goes.

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Text credit: Newsbtc

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