Elon Musk’s decision to appear on Saturday night live event on May 8 is making waves on Twitter and in the crypto market. He tweeted on April 28-
SNL May 8
— Elon Musk (@elonmusk) April 28, 2021
Elon Musk is a believer in Cryptocurrency and has at least six times tweeted his thoughts that have rallied the market in favor of meme cryptocurrency and increased its market cap. Elon Musk’s public opinions affect the market from Bitcoin to Dogecoin but have especially affected Doge currency as it is new and has a much less market value.
Since his announcement in Saturday Night Live as part of an act for Dogecoin has made the market rally for the cryptocurrency and has increased it to $0.33 with an almost 43% increase in value since last year.
Elon even asked his Twitter followers to suggest ideas for his SNL act.
Throwing out some skit ideas for SNL. What should I do?
— Elon Musk (@elonmusk) May 1, 2021
His followers didn’t disappoint him and presented him with a whole lot of amazing ideas some of which caught Musk’s attention.
You on Joe Rogan but he progressively convinces you to take harder and harder drugs
— Rusty Cage (@RSTYCG) May 2, 2021
People have already been predicting Dogecoin’s rally after Musk’s act if he mentions the cryptocurrency. They believe that if Elon mentions Dogecoin, the digital currency could come to a whole lot closer than to realizing the dream of $1 this year.
— 💲 (@usd0llar) May 3, 2021
Musk’s loyalty to digital currency is not just limited to being vocal about it on social media. Tesla has also shown trust in digital currency when it added Bitcoin to its balance sheets. He believes that cryptocurrency is the future of finance. This has made the market take his actions seriously regarding cryptocurrency from tweets to statements to indicators.