HomeFINANCEDogecoin Cryptocurrency Tumbles After Elon Musk Calls It A "Hustle"

Dogecoin Cryptocurrency Tumbles After Elon Musk Calls It A “Hustle”

On the crypt exchange Binance said that the Dogecoin was quoted as low as $ 0.47, before the show started it went down 28% from levels around $ 0.65.

The price of dogecoin dropped sharply in the first hours in the US on Sunday, after Tesla’s main supporter and cryptocurrency supporter Elon Musk called it a ‘hustle’ while visiting guests on the “Saturday Night Live” program.

Dogecoin was quoted as low as $ 0.47 on the crypto exchange Binance, down 28% from levels around $ 0.65 before the show.

The CEO of Tesla Inc was at the show at 11:30 p.m. EDT Saturday (0330 GMT Sunday).

Fans of Cryptocurrency have for days been eager to see what he will say, after his tweets this year turned a hidden digital currency into a speculative dream.

Dogecoin Cryptocurrency Tumbles After Elon Musk Calls It A "Hustle"
Dogecoin Cryptocurrency Tumbles After Elon Musk Calls It A “Hustle”

Asked what ‘dogecoin’ was, Musk replied saying that it is the future of money. He also said that It is also an unstoppable financial vehicle that will take over the world.

When actor Michael Che protested saying and asking that is it a project?, Musk replied saying to that yes, it’s a project. And then he laughed.

Musk is an extraordinary business genius who has been asked to run a prestigious comedy TV show. Time puts Musk back in the spotlight as Tesla’s stock is declining following last year’s beast meeting.

The CEO had also posted a lot of comments about cryptocurrensets on Twitter and has also criticized the old standard money for having illegal interest rates.

He said in the month of February that only a fool can look elsewhere.

His secret tweets “Doge” and “Dogecoin are people’s crypto” that month began a rally on dogecoin – a parody of bitcoin and the common ethereum.

On Thursday, Musk wrote on Twitter that the cryptocurrency is promising, but please invest cautiously! and a video clip attached to it that says they should be considered a guess at this point. And of course, one knows that they don’t go too far in crypto thinking …

But he also said in the video, that the cryptocurrency has a good chance of being called as the world’s future currency.

In the crypto data tracker CoinGecko.com, dogecoin jumped more than 800% last month and is now the fourth largest digital currency, with a market capitalization of $ 73 billion. It hits a record high on Thursday this week and that was above $ 0.73.

It has access to widely used cryptocurrencies such as litecoin and tether.

Tesla said in the month of February said that he bought $ 1.5 billion worth of bitcoin and would soon adopt it as a way to pay for its electric vehicles, a major step towards a general acceptance that sent the bitcoin to a peak of an about near to about $ 62,000.

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