Elon Musk is committed to giving Dogecoin more and more voice. Alone, the well-known billionaire has fueled buying interest for the asset since the beginning of this year and has helped DOGE remain relevant in the cryptocurrency market, despite the backlash.
Doge supporters react to Elon Musk who prioritizes asset over performance to SNL
Once again, Doge rose quickly following a tweet from Elon Musk, which got Crypto-Twitter excited about what he'll have on the TV show. The popular Saturday Night Live TV show will feature the presence of the Billionaire, who called himself DogeFather a few days ago, revealing that he would perform on May 8.
Musk had said “I'm looking for some ideas for SNL. What should I do?" and one respondent user said "Summin about the DogeFather" and at that point, Mush replied "Definitely". So Doge has rebounded + 10%, but this is just the tip of the iceberg, as the future looks increasingly bullish for Doge in the coming week.
Will DOGE reach new levels next Saturday?
Market reaction to Musk's pre and post SNL performance could be important to DOGE's price. This month, analysts are particularly interested in seeing Dogecoin reach new highs and these expectations could turn into reality if market interest continues at its current pace. It would come as no surprise to see Doge hit $ 1 this month if the market reacts to ongoing activity and maintains bullish momentum.
This could add a hefty amount to Dogecoin's $ 53 billion market cap, which is already impressive for an asset created as a joke. Dogecoin could also give other assets a run for their money as a $ 1 price pump could see it beat Tether (USDT), Ripple (XRP) and even Binane Coin (BNB) to claim one of these positions.
Dogecoin had a bumper run in the first quarter, courtesy of Elon Musk and retail traders who mimicked GameStop's pumper culture to drive the asset up in earnings.
The way to go is highly bullish for DOGE, but there is still competition. For the past seven days, XRP has been in the ranking for the best performing cryptocurrency in the top 10 most popular by market cap, while Dogecoin is in second place. The situation could easily turn in Doge's favor if Musk's PR for the asset pestered the bulls' enthusiasm on Saturday.
Have you already started accumulating meme cryptocurrency? To do this without taking too many risks, you can use an automated trading platform such as Bitcoin Revolution. This allows you to invest small amounts of money, to speculate on the price, both up and down, of the value of Doge and many other cryptocurrencies.
In the meantime, let us know in the comments below what you think of Doge and if on Saturday he could record new all-time highs.
