If his opening monologue mentions Dogecoin, it might help. Unlike bitcoin, which at least has a finite number of coins, there can be an infinite number of "doggy-coins" (my name for them), thus making them worthless. 0. It dropped 40%, trading as low as $0.44 by Sunday. Similar to the cult-like energy that helped GameStop garner headlines, Dogecoin has amassed its own following of ardent supporters—shrugging of losses only to rally the troops to build the token back up. It's a unique company that gives investors the chance to catch the upside of the exploding cryptocurrency market without buying a single crypto... And I believe it has the potential to skyrocket 1,000%. Yet, as our special report explains, the least noticed disruption on the frontier between technology and finance may end up as the most revolutionary: the creation of government digital currencies, which typically aim to let people deposit funds directly with a central bank, bypassing conventional lenders. But our idolatry of innovators and the algorithmic media ecosystem have distorted the allocation platform. Thanks guys! If investors best case scenario occurs and Dogecoin soars past $1, it will likely come back down to where it started. -. Yesterday evening, Musk appeared on SNL with a couple of much-anticipated Dogecoin … Is dogecoin going to crash before or after SNL? Whitney Tilson’s email to investors disccussing Enrique thinks he has found a 10-bagger; Dogecoin crashes after Musk SNL snafu; the Martian; the digital currencies that matter; don’t freak out (yet) about jobs. Market Realist is a registered trademark. Is he the best person to build those things? However, the lack of substantial market factors poses a risk to holders of Dogecoin. But the billionaire’s appearance on primetime television appeared to have the opposite effect, with DOGE plunging sharply as the broadcast drew to a close. During the frenzied sell-off, Robinhood experienced an outage in its crypto trading. It's also hard to deny that Elon has inspired an extraordinary flow of capital into EVs and innovation in transportation. hide. Please speak to a licensed financial professional before making any investment decisions. As we’ve seen, all it takes is a tweet, a meme, or any other headline to send this highly volatile currency into a frenzy. One of the world's largest auction houses, Sotheby's, will now be accepting #bitcoin for payment.Banksy's Love Is In The Air will be the first piece of artwork up for auction and available for #bitcoin pic.twitter.com/NIRcwlf15M. She directs a 150-person team that helps the firm direct the $160 billion of assets it manages Read More. Musk is barking up Dogecoin again after its value dropped nearly 30% during his appearance on "Saturday Night Live." The value of dogecoin ( DOGE) plummeted from record highs after Elon Musk’s Saturday Night Live (SNL) appearance, disappointing investors who tried to push the coin to $1 (£0.72). It's like an earnings miss but for a new era.". Unsubscribe at any time. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. mediaweek.com.au - Tess Connery • 7h. var r = Math.floor(Math.random() * (9999 - 0 + 1) + 0); Whitney Tilson’s email to investors disccussing Enrique thinks he has found a 10-bagger; Dogecoin crashes after Musk SNL snafu; the Martian; the digital currencies that matter; don’t freak out (yet) about jobs. A Dogecoin crash won’t signal the end. Cast members have taken to social media to express their displeasure at the billionaire entering their hallowed ground. save. Per Business Insider, there was a report from TRM Labs … Musk is going to keep tweeting, appearing on SNL, and ensuring he has a bigger rocket than other masters of the universe... because it works. My most recent call was in Friday's e-mail, where I heaped scorn on the cryptocurrency dogecoin. Excerpt: TECHNOLOGICAL CHANGE is upending finance. We won't send you spam. However, as the … Elon Musk presenting Saturday Night Live was meant to be a big moment in the crypto world — with analysts feverishly predicting that Dogecoin would surge.. But as the show wore on, the price dropped. Save it to your desktop, read it on your tablet, or email to your colleagues. It seems predictions that Dogecoin would hit $1 during Musk’s appearance on SNL proved false. Some Dogecoin investors found themselves victims of a scam related to Tesla CEO Elon Musk’s appearance on “Saturday Night Live” earlier in May.. Is the most efficient amount of capital flowing to his factories, versus those in Ingolstadt or Toyota or Detroit? (function () { ET, dogecoin climbed back up to 0.5445 USD—a 19.5 percent drop since the show started. By MacKenzie Sigalos. After climbing to yet another all-time high in the build-up to the show on Saturday, dogecoin’s price began to drop before a flash crash wiped out more than a third of its value. 4) Speaking of cryptos, here's an insightful article on them in The Economist: The digital currencies that matter. Opinion piece. However, not everyone who invests in Dogecoin bank their behavior on what Musk does or doesn’t do. Employers Added 266,000 Jobs in April as Hiring Slowed. Posted by 15 days ago. All Rights Reserved. TV Demand: Saturday Night Live crashes Dogecoin but tops the AU chart. It ultimately dumped as low as $0.42 [as] of 8:05 a.m. Dogecoin price, May 2021. When SNL concluded just after 1 a.m. Q1 2021 hedge fund letters, conferences and more Karen Karniol-Tambour is the head of investment research at Bridgewater Associates, the world's largest hedge fund. But on Saturday Night Live, the Tesla and SpaceX CEO sent Dogecoin spiralling back to Earth after his appearance shaved 30% off the coin's price overnight. Sohn 2021 Investment Conference: Bridgewater Is Concerned About Inflation And Fiscal Policy, Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. document.getElementsByTagName('head')[0].appendChild(jo); Employers Added 266,000 Jobs in April as Hiring Slowed. - The Robinhood trading app crashed twice in the week leading up to Musk going on SNL as users flooded the site and Dogecoin spiked sharply. 47.0k. One thing’s for sure, no matter what happens after Musk appears on SNL, Dogecoin won’t stay where it ends up. May 9, 2021, 5:21 AM PDT. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Dogecoin falls as much as 29.5%, dropping to 49 cents, during Elon Musk's SNL debut. Learn more here. 43 comments. Enthusiasts of the meme cryptocurrency Dogecoin have been on a rollercoaster ride this year. Excerpt: The deeper problem? save. Dogecoin has remained trapped in the mire all day today, sinking as low as $0.43. Robinhood Crashes After SNL Mentions Sparked Dogecoin Sell-Off Tesla (NASDAQ: TSLA ) CEO Elon Musk hosted Saturday Night Live and mentioned Dogecoin. 54.9k. Robinhood Crashes While Elon Musk Jokes on 'SNL' of Ditching Dogecoin to Mom ... has been a giant advocate for dogecoin. just now. People may receive compensation for some links to products and services on this website. While Elon Musk hosted Saturday Night Live, Dogecoin investors sold. 3. Is A “Currency” That Drops 36-percent In A Week Actually Good. This leaves Dogecoin to be affected strictly by memes, social media, and its relatively low price. Get the entire 10-part series on Charlie Munger in PDF. A healthy market is supposed to answer that. jo.id = 'FJVoiceFeed'; © Copyright 2021 Market Realist. Ending 2020 seemingly stuck in its parody origins with a value less than a penny, Dogecoin has since proven itself to be something of note. Dogecoin drops by more than 30% as the Telsa boss pokes fun at it on Saturday Night Live. As Elon Musk, the self-proclaimed “Dogefather," made his Saturday Night Live debut, the price of dogecoin fell off a cliff. Yes, Dogecoin is a “meme” coin -- but believe it or not, the coin is now … Meme-based cypto currency Dogecoin is falling after Tesla CEO Elon Musk ‘s performance hosting Saturday Night Live. P.S. Dogecoin’s absence from the show entirely could hurt the price. That's why I predicted that dogecoin's price "will be down 30% within a month, 50% within three months, and 80% within a year.". Bitcoin has gone from being an obsession of anarchists to a $1trn asset class that many fund managers insist belongs in any balanced portfolio. 5) This news on Friday has a lot of people worried about the pace of the economic recovery: U.S. I also own a few grams of Gold and Silver. 2) I'll put my track record of calling the top of obvious, stupid bubbles up against anyone's. Given all the shifts the economy is going through, as well as issues such as how the Labor Department's adjustments for seasonal changes in the job market may have been thrown out of kilter by the pandemic, it probably isn't a good idea to read too much into the report. Excerpt: April is also just one month. Healthy markets don't take cues from the tweets of one man. var jo = document.createElement('script'); That’s because it surged as you can see ahead of SNL and because of Musk on SNL, so at some point it was going to give downwards. })(); ValueWalk.com is a highly regarded, non-partisan site – the website provides unique coverage on hedge funds, large asset managers, and value investing. https://www.cnn.com/2021/05/09/investing/dogecoin-elon-musk-snl Dogecoin, parodying a Shiba Inu dog, was the crypto star on SNL. Many view Dogecoin simply as a meme stock that ebbs and flows without a viable future in currency. During the last hour Dogecoin's price dropped from around 66 cents to just below 50 cents. Excerpt: The world's 2nd richest man was the main reason why an entire generation of young Dogecoin "traders" turned on SNL for the first time in their lives... only to see their favorite joke of a cryptocurrency (which it is by definition) demolished after weeks of breathless buildups for what Elon Musk had in store. Close. What the Crypto Crash Means for Stock Markets and Other Investments, Aave Coin Keeps Rising Amid Hot DeFi Trend, Might Reach $1,000. Q1 2021 hedge fund letters, conferences and more. Dogecoin has kind of recovered a bit. 24. While many assumed Dogecoin would skyrocket in value during Elon Musk’s anticipated SNL appearance, the joke cryptocurrency crashed as the Tesla CEO put on an Italian accent and wore a $65 ‘Adult Wario Costume.’ When the Saturday Night Live episode first started at 11:30pm ET, Dogecoin hovered at $0.80, according to Coinsquare’s data. It's far too early to declare victory of course, but I like my odds. Close. Is dogecoin going to crash before or after SNL? Jacob Wolinsky. CELR Coin Pulls Back 60 Percent—Should You Buy the Dip? There have already been headlines leading up to the episode. So when he says he thinks he's found his first 10-bagger since he joined Empire Financial Research a year and a half ago, pay attention! 914 comments. However, Dogecoin enthusiasts don’t seem like a group that finds Musk distasteful. Here are links to four of his segments: 3) Here's NYU marketing professor Scott Galloway with a very thoughtful, nuanced take on Musk: The Martian. Posted by 3 days ago. This coincided with problems in the Robinhood mobile app. Crash after SNL and why I’m not worried. Bitcoin’s price is driven by investors buying the limited available tokens, sure, but it’s also impacted by its emerging usability. Here's ZeroHedge with more on the story: Dogecoin Demolished After Musk SNL Snafu. With Musk set to host SNL on May 8, Dogecoin holders and outside observers alike will tune in to see what impact it will have on the currency’s price. With their fingers and Twitter feeds on the pulse of the latest tweets by Tesla CEO Elon Musk, Dogecoin faithful are waiting for any reason to send Dogecoin soaring again. Swarms of digital day-traders have become a force on Wall Street. Elon Musk, Grimes, Miley Cyrus Attended A Crypto-Themed SNL Afterparty With Dogecoin Ice Sculptures. More businesses are getting on board with accepting Bitcoin as payment at a much higher rate than Dogecoin. Crash after SNL and why I’m not worried. We're the richest country in the history of humanity, and we can't garner the political will to fix our bridges, let alone reach for the stars. Having surged to a record high of $0.73 (making it the fifth most valuable cryptocurrency) on Saturday ahead of the show, it started to drop as soon as Musk took the microphone... ... then dropped more as Musk's rambling monologue and boring skits failed to excite... ... or properly promote his favorite joke of a cryptocurrency. Dogecoin fans expected the joke coin to soar during Elon Musk’s SNL appearance, but the dogecoin (DOGE) price ended up falling significantly. There might not be any reason to lower your expectations for what the job market will do over the remainder of the year now; if the next employment report also disappoints, though, then there will be real cause for worry. While we're watching the fireworks, he's building cars and rocket ships. With his upcoming appearance on SNL on May 8, many speculate it could spell disaster for the digital currency. Dogecoin Crash: Down 34% After Musk’s SNL Appearance, Please speak to a licensed financial professional, The Texas Storm: Understood With Peter Kelly-Detwiler, Hoarding Wealth: Seven Deadly Economic Sins, How I Found What Could Be the First 10-Bagger in Empire Financial Research History, Billionaire Elon a 'Musk see' on 'mediocre' episode of 'SNL', Financial Expert Lloyd Ostertag on Cryptocurrency, U.S. A woman who was caught up in the recent Dogecoin hype said that she lost more than $12,000 because of a social media scam.. What is the Dogecoin scam? As SNL's Lorne Michaels likes to say, "Here's the thing." Our elevation of Musk as a capitalist idol has distorted the flow of capital and talent. If dozens of data points indicate the mother of all economic booms and one doesn't, which are you going to believe? Dogecoin Crash: Down 34% After Musk’s SNL Appearance. In the hours after the show the price dropped further, going as low as 43 cents. 54.9k. It's the allocation platform. Any one of the driving factors of Dogecoin can cause its demise. Clean-Tech Air Purifier: Gives Medical Grade Protection To Home And Office With UVC Tech, Repeating Discovery Communications’ History. I actually thought Musk was pretty funny on SNL – and this New York Post writer agreed: Billionaire Elon a 'Musk see' on 'mediocre' episode of 'SNL'. jo.type = 'text/javascript'; Being such a speculative currency, it can drop just as fast as it rises. Robinhood Crashes After SNL Mentions Sparked Dogecoin Sell-Off Tesla (NASDAQ:TSLA) CEO Elon Musk hosted Saturday Night Live and mentioned Dogecoin. Elon Musk Did Multiple Dogecoin Sketches On ‘SNL’ And Its Price Plummeted Anyway. ... More posts from the dogecoin community. Here's a Wall Street Journal article about this: Don't Freak Out (Yet) About Jobs. © 2011-2021 VALUEWALK LLC. share. The value of dogecoin sank to 44 cents on Sunday morning despite multiple shoutouts from Tesla billionaire Elon Musk during his much-anticipated appearance on “Saturday Night Live… It’s impossible to speculate to what effect Musk hosting SNL will have on Dogecoin, if any. My take: We are likely falling into the behavioral finance trap of overweighting vivid, recent evidence. PayPal (PYPL) has 392m users, a sign that America is catching up with China's digital-payments giants. share. Im new to this and thinking of buying more before it goes crazy, I know its impossible to know but would it be smart to buy now or wait a little while? This year's Sohn 2021 Investment Conference featured Patrick O'Shaughnessy in conversation with Karen Karniol-Tambour. Vote. When SNL first went live, the cryptocurrency hovered around 69 cents (nice). Subscribe to ValueWalk Newsletter. Dogecoin is crashing while Elon Musk is on Saturday Night Live The tumble of a joke cryptocurrency was caused, fittingly, by another joke By Elizabeth Lopatto @mslopatto May 9, 2021, 12:52am EDT After repeatedly being asked by the hosts what Dogecoin actually is, Musk eventually admitted that it’s “a hustle,” prompting the cryptocurrency’s rapid descent in value. A meme of a Shiba Inu dog riding a rocket to the moon or a tweet by Musk can send Dogecoin’s price up. Dogecoin speculators were expecting Tesla (TSLA) CEO Elon Musk to plug the dog during his appearance on Saturday Night Live over the weekend, but instead he said "it's a hustle" in this funny segment. by Samyuktha Sriram. If the price is sent crashing, it will see a resurgence shortly after. May 10, 2021, 12:30 pm. GDX, HUI: Will Paradise Turn into a Dystopia? In the spectacle economy, it's about the show, the now, the short-term hit. By day, Elon Musk sends rockets to space. One thing is certain, Dogecoin is on many crypto investors’ radars. jo.src = 'https://www.financialjuice.com/widgets/voice-player.js?mode=inline&display=1&container=FJ-voice-news-player&info=valuewalk&r=' + r; Instead, the group thinks that the billionaire is amusing. May 8" -- the price rose from $0.256 to a high of $0.655 on May … One thing’s for sure, no matter what happens after Musk appears on SNL, Dogecoin won’t stay where it ends up. In this special essay he penned for Empire Financial Daily on Saturday, How I Found What Could Be the First 10-Bagger in Empire Financial Research History, he explains how he and his team look for stocks with multi-bagger, long-term upside potential and concludes with a link for more information about the potential 10-bagger he's found: This is the biggest, most obvious investment opportunity I've uncovered in 25 years. Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. We respect your privacy. Many skeptics of Dogecoin point to where the cryptocurrency falls short compared to more robust currencies like Bitcoin and Ethereum. After his most recent Dogecoin tweet on April 28 -- "The Dogefather SNL. Jacob lives with his wife and four kids in Passaic NJ. It even nearly touched 50 cent, with a crash of sorts to be expected after SNL regardless of whatever happened there. ALL RIGHTS RESERVED. Instead of pumping, the price of Dogecoin dropped as a sell-off ensued. As of this writing, it is worth 56 cents, a 12 percent plunge. ET... ... a 35% decline in 24 hours and a disappointment for all those who had expected that Musk's SNL appearance would be the catalyst that pushes the "dog" above parity with the dollar. report. ValueWalk also contains archives of famous investors, and features many investor resource pages. Offers may be subject to change without notice. Humbl Stock Will Likely Keep Falling Amid Sell-Off in Tech Stocks. Right now, it’s a … Finally an investment strategy I can stand behind. Dogecoin’s value dropped significantly over the weekend even after Tesla CEO Elon Musk talked about Doge on “Saturday Night Live.” Why Dogecoin dropped fast on Saturday According to CNN, investors sold off their Dogecoin holdings after Musk appeared on the show. Posted by. Mission: Providing a framework to improve your investing PROCESS, while collecting newsworthy information about trends in business, politics and tech areas. Or, as Baird's Michael Antonelli put it, "Bad jokes and no funny memes leading to a Dogecoin crash absolutely makes sense to me. Meme. In turn, the price will eventually go back up. But neither is it a good idea to completely ignore it. If Dogecoin does end up dropping significantly, there will be a line of buyers looking to get in at a discount. Unfortunately, as with most things Musk, the action was all in the fervent anticipation of the main event... which turned out to be a fiasco.