Invited to the famous comedy show Saturday Night Live, the boss of Tesla made a joke that plummeted dogecoin, even though the announcement of his participation had made him jump.

A joke by Elon Musk caused dogecoin prices to plummet. Acting as a financial expert, Elon Musk praised the merits of cryptocurrencies, and especially the “doge”: “This is the future of money. It is an unstoppable financial vehicle that will take over the world. One of the participants in the skit then asked him: “So it's a scam? ”. To which the billionaire replied, “Yeah, it's a scam,” before laughing.
This joke had huge consequences. The dog-headed crypto wasn't the only victim of the South African's ravaging humor. Bitcoin fell by 1%, to $58,000 during the broadcast of the show. Tesla owns a bitcoin wallet worth 2 billion dollars. Elon Musk had promised to send dogecoin “to the moon”, using the slogan of the “fans” of the cryptocurrency. But he quickly caused him to fall back to earth. The dog-headed crypto lost nearly 30% of its value in 24 hours.