Dogecoin Falls as Musk Underwhelms and Reality Intrudes

As such, almost from the moment Musk appeared onstage (not accompanied by 100 Shiba Inus or a fawning Janet Yellen and Jerome Powell) the price of dogecoin started falling. And falling. By the time “SNL” ended early Sunday ET, dogecoin was under 56 cents, a drop of more than 20%. By 9 a.m. ET it had reached as low as 41.8 cents, giving back almost all the gains of the previous week – along with more than $20 billion in market cap – before rebounding somewhat to 48.5 cents at press time, down 32% in the last 24 hours.

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