was changing hands at 55 cents, according to CoinDesk.
Its drop has driven the crypto below its 200-day moving average, which stands at 51.99 cents, according to Investing.com.
Bullish talk about dogecoin by the chief executive of Tesla Inc.
So far in 2021, doge is up over 10,000%, even factoring in its recent pullback.
During “SNL’s” “Weekend Update,” co-anchors Michael Che and Colin Jost pressed a fictional financial expert named Lloyd Ostertag, who was played by Musk, to explain dogecoin.
Popular financial blogger and CEO of Ritholtz Wealth Management in Midtown Manhattan, Josh Brown in a Saturday blog wrote that “SNL’s” record spoofing on financial markets has tended to mark the top of most assets, including the speculative fervor around GameStop Corp.
“I think it’s worth pointing out that ‘Saturday Night Live’ has done lots of stuff about financial markets and the economy recently and the sketches have actually been pretty funny.