“Dogefather”: DOGE price soars after Elon Musk’s SNL tweet

Ellon Musk, nicknamed Dogefather by the DOGE community, tweets about his participation on SNL and the price of the cryptocurrency soars again.

Dogecoin (DOGE) approaches historic highs after Elon Musk’s SNL Dogefather” tweet “.

DOGE reaches USD $ 50 billion in market value

In the weekend that marks the beginning of May, the infamous crypto-meme Dogecoin rose again.

According to TradingView, the cryptocurrency with the image of the dog Shiba Inu, is approaching the highest point of the asset (ATH). DOGE’s last ATH was in mid-April, when the digital currency reached USD $ 0.44 per token.

Dogecoin GT search. Source: Google Trends.
Dogecoin price. Source: Trading View.

As you can see in the chart above, DOGE jumped more than 45% over the past week. In addition, last month’s statistics show that the token rose 537.92% against the US dollar.

Elon Musk: The Dogefather

Elon Musk’s strong influence on Twitter strikes again. Just before Dogecoin’s most recent rise, the CEO of Tesla and SpaceX mentioned his next appearance on the TV show Saturday Night Live (SNL). The program is scheduled for this Saturday, the 8th.

In his tweet, published on April 28, the billionaire wrote “The Dogefather SNL May 8“.

This tweet made Elon Musk’s nearly 53 million followers think it was about an impending Dogecoin (DOGE) mention on the SNL show. However, in reality it seems Musk was looking for ideas on Twitter on sketches he could make during the TV show.

Nearly 10,000 people quoted Tesla’s CEO tweet that day. It was retweeted over 72,000 times and had more than 442,000 likes at the time it was written.

In addition, a considerable number of people responded to Musk’s tweet. “Your words give Dogecoin life and energy”, replied user Remya, from India. “I invested 5,000 Indian rupees in DOGE. Purchased for 27 INR. Only 184 DOGE coins. Now, on a little dip. These 5k are too small for big investors. But it is a hard earned money for me”, she added.

Remya’s tweet got over 4,541 likes and was heavily retweeted. Since Musk’s tweet, the hashtag # Dogefather and #DogecoinToTheMoon have gone viral on Twitter.

Dogecoin achieves higher Google Trends score after Dogefather tweet

Members of Army Shiba also helped fuel DOGE trends on Twitter. “Elon Musk is bringing Scooby Snacks to SNL. I think I’ll give in and get a small bag of DOGE ”, tweeted one member.

“Thank you, # Dogefather”, thanked another person. “You made me recover what I missed. I wish you to reach the dollar mark”.

# Dogefather and DOGE related content is not only circulating on Twitter feeds, but also on YouTube videos and other social networks. Also, many posts about Shiba Inu have made Dogecoin mentions reach new highs. For example, Musk’s tweet announcing the purchase of a Shiba Inu dog.

In Google Trends (GT), the global statistics for the term “Dogecoin” recently reached the maximum score (100) that a GT search may have. Check out the image below:

Dogecoin GT search. Source: Google Trends.
Dogecoin GT search. Source: Google Trends.

In the image, it is possible to observe that the maximum GT search score was between the week of April 11th to 17th. However, from the 18th to the 24th of the same month, the score dropped to 99. In addition, it is possible to notice an imminent downward trend. It’s important to note that Dogecoin has been elected as the currency of the people. In poorer countries like Brazil, for example, “Dogecoin Hoje” which means Dogecoin Today, has been one of the trending topics in google trends.

Dogecoin: market cap and price

On May 1, the DOGE global economy officially achieved a market valuation of USD $ 50 billion.

Currently, the market cap of the cryptocurrency meme is USD $ 73 billion and the price of Dogecoin (DOGE) is worth approximately USD $ 0.57.

DOGE USD chart. Source: CoinMarketCap.
DOGE USD chart. Source: CoinMarketCap.

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