The source says Dogecoin rose to $0.32 after Elon Musk posted "The Dogefather," then later fell 30% after his May 8, 2021 Saturday Night Live appearance.
According to the source, Elon Musk’s "The Dogefather" tweet five years ago triggered a rapid 20% jump in Dogecoin to $0.32 within minutes. The post adds that by the time Musk hosted Saturday Night Live (U.S. television comedy show) on May 8, 2021, Dogecoin had nearly reached $0.70. During the Weekend Update segment, he called it "a hustle," after which the memecoin (internet-driven cryptocurrency) reportedly dropped 30%. The episode is often cited as an example of how celebrity attention can quickly move highly speculative crypto assets.