Dogecoin (DOGE), the cryptocurrency created out of meme, which currently occupies the fourth position in the market, continues to maintain its surging momentum despite a lot of criticisms from skeptical crypto enthusiasts.
Dogecoin (DOGE) has attained another price all-time high, just a few hours to Elon Musk’s anticipated skit about the cryptocurrency on Saturday Night Live (SNL).
At 6:00 UTC, Dogecoin (DOGE) hit $0.73 according to CoinMarketCap, before a slight price correction. At the time of filing this report, DOGE is trading at $0.665, with a 7.10% price upsurge in the last 24 hours.
The current notable surge has been attributed to the upcoming Saturday Night Live, the comedy show to be hosted by the billionaire tech expert, Elon Musk. It’s slated to air at 8:30 pm Pacific Time or 3.30 am UTC.
At $0.73, the market capitalization of Dogecoin (DOGE) reached $95.3 billion, which was just 1.6% less than the market capitalization of Binance Coin (BNB). This prompted the CEO of Binance, Changpeng Zhao (CZ), to take to Twitter to share the magnificent price upside trend experienced by the so-called meme token.
CZ Binance tweeted, “BNB market cap only 3% higher than doge. For everyone in the binance ecosystem, don’t get distracted, just keep building.”
— CZ 🔶 Binance (@cz_binance) May 8, 2021
Over the past few days, it’s been speculated that the SNL skit could feature Dogecoin (DOGE) as confirmed by Elon Musk, which would, in turn, introduce the cryptocurrency to a new audience. The crypto community is also hopeful that viewers may be convinced to buy DOGE, pushing up the price in the process.
Meanwhile, the publicity around featuring Dogecoin during the much-anticipated event has obviously been impacting the price of the digital currency positively.