{"id":288502,"date":"2021-05-08T19:27:26","date_gmt":"2021-05-08T23:27:26","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=288502"},"modified":"2021-05-12T10:06:34","modified_gmt":"2021-05-12T14:06:34","slug":"elon-musk-and-dogecoin-on-snl-5-reasons-to-buy","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/elon-musk-and-dogecoin-on-snl-5-reasons-to-buy","title":{"rendered":"Elon Musk and Dogecoin on SNL – 5 Reasons to Buy"},"content":{"rendered":"
The witching hour for the buy Dogecoin crowd draws near, as NBC drops a teasing SNL trailer in which Elon Musk, aka the Dogefather, promises he’ll be “good-ish”.<\/p>\n
Here we provide five reasons to stiffen the resolve of otherwise trepidatious market participants out there wondering whether it’s a good time to buy Dogecoin, given that even the swashbuckling Elon Musk urged caution earlier this week.<\/p>\n
Fear of possible disappointment risks a ‘sell the news’ moment.<\/p>\n
Also, in exclusive comments provided to insidebitcoins.com, veteran crypto watcher and investor Clem Chambers provided his Dogecoin thoughts – he reckons whatever happens post SNL<\/a>, it’s all about the brand power.<\/p>\n In addition Rob Gaskell, founder and partner at Appold, the emerging tech advisory and investment firm, reveals that he is very much of a mind that Dogecoin is the sort of plague-spreader the crypto industry could do without.<\/p>\n Currently trading at $0.63, down 9% in the past 24 hours, here are the five reasons why you maybe shouldn’t give up on Dogecoin just yet or the joke could be on you.<\/p>\n But remember, binary events are not good for the blood pressure, so you may want to sit out the fun that starts at 11.30 EST and make your move after the excitement has died down. As all good hosts will tell you, it’s all about the timing.<\/p>\n Elon Musk is on Saturday Night Live and whenever he gets the chance to promote his favourite crypto he takes it. That should be good news for Dogecoin because a tweet from Musk, no matter how inscrutable, invariably provokes riotous buying.<\/p>\n For example, on 4 February he tweeted: “Dogecoin is the people’s crypto”, followed up with the tweet of riff on the Lion King, with Musk holding up a baby Doge and the words “ur welcome”. The cryptoverse went into overdrive – or at least the Doge lovers. The coin’s price advanced 50%.<\/p>\n He pulled off an even bigger pump on 15 April when he tweeted<\/a> “Doge Barking at the Moon”. The result? Dogecoin surged 520% that week.<\/p>\n1. The Musk effect is still potent<\/h2>\n