Dogecoin Price Surges 20% After Elon Musk’s SNL Tweet - TCR

• Tesla Chief again prompts a steep rise in DOGE values.
• Elon christens himself as ‘The Dogefather’
• The value of DOGE reaches $0.31, an increase of 20%.

The Tesla chief is to make his “Saturday Night Live” hosting debut appearance on May 8. In his tweet, the CEO of Tesla christened himself “The Dogefather” and hinted at the possibility of the dogecoin (DOGE, -4.45%) (DOGE) featuring in his SNL appearance prompting a spike in the crypto’s value.

Elon Musk tweet prompts rise

Coindesk.com reports that the Tesla chief teased his Twitter followers about the possibility of the cryptocurrency featuring his debut appearance in SNL on May 8. The tweet prompted massive excitement among the Dogecoin traders, and the meme-based crypto to feature in front of a huge television audience is very much a possibility.

Dogecoin values had swelled 6000% in 2021 from its inception in 2013 when the parody crypto derived ” “Doge” meme. The crypto coin has found a backer in Elon Musk, who even once claimed that Spacex is placing a literal Dogecoin on the literal moon. It could be an April Fool joke since DOGE, like all other cryptocurrencies, is digital by definition and not physical. However, the latest tweet by Elon Musk has spiked the value of DOGE. The value rose from $0.25 over the previous 24 hours to over $0.31, an increase of 20%.

Dogecoin Miners Revenue Up 4,500% this Year

Coindesk.com reports that Dogecoin Miners Revenue Up 4,500% this year, and daily miner revenue has risen above $3 million this week. It is not that only the DOGE owners are making the earnings. Other Shiba Inu-themed cryptocurrencies are also making good profits. Blockchain data provided by ByteTree shows that the revenue of dogecoin miners rose to a record high of $3.6 million on April 26.