New York (CNN Business) Investors bet right: Elon Musk mentioned dogecoin on "Saturday Night Live" during his opening monologue. Maye Musk appeared at the end of her Tesla CEO son's SNL monologue to ask what he got her for Mother's Day. After pumping up the value of the cryptocurrency in the lead-up to Musk's SNL appearance, investors sold off dogecoin sharply after the Musks talked about it on the show. Dogecoin was down 24%, trading as low as 54 cents Saturday night. The cryptocurrency started Saturday trading at around 70 cents and was selling for about 66 cents just before SNL went on the air at 11:30 pm ET.

Source: CNN May 09, 2021 04:32 UTC