Betting Odds Favor Dogecoin Value Increasing With Elon Musk On SNL

• Elon Musk has been one of Dogecoin’s biggest endorsers.
• Dogecoin is favored to increase in value during Saturday Night Live with -175.

NEW YORK—“Live from New York it’s Saturday Night Live!” is the famous line that all Dogecoin investors are waiting for. On this week’s taping of Saturday Night Live, Tesla CEO and Dogecoin endorser, Elon Musk will be making an appearance.

With his appearance on the show, many are anticipating that he will use the platform to endorse the up and coming Dogecoin even more. With all of the hype surrounding his SNL skit, legal sports betting sites have odds on if the price of Dogecoin will increase from the show’s start to finish.

There should be no surprises here that Dogecoin’s value is favored to increase during SNL. As mentioned before, Musk is easily the biggest endorser of the coin and it shows. Any time Musk even mentions Doge on any social platform, the value goes up. Just recently on April 28, Musk went on his Twitter and referred to himself as the “Dogefather” while talking about his upcoming SNL appearance.

The Dogefather
SNL May 8

— Elon Musk (@elonmusk) April 28, 2021

On that day, the price of Doge was sitting at just 30 cents. The next six days after the Tweet, the price of Doge rocketed to 65 cents.

With that, there have been rumors that Musk’s skit on SNL will revolve around Doge which backs up the value going up even more.

While betting on the entertainment odds that the price of Doge will be up by the end of SNL is close to a sure thing give its backing points, bettors and investors should remain cautious.

While the price might go up during Musk’s skit on SNL, once he is done with his performance, the price could drop rather quick. Even Musk himself preached that investors and bettors should be cautious.

Cryptocurrency is promising, but please invest with caution! https://t.co/A4kplcP8Vq

— Elon Musk (@elonmusk) May 7, 2021

Something else that bettors and Doge investors should keep in mind is that all the hype surrounding Musk’s SNL skit could be just that, hype alone. Looking back at April 20, 2021, many were calling this day “Doge Day” as they expected the price to “shoot to the moon” but in reality, the price took a dip. On the alleged Doge Day, the price was at 30 cents, however, April 21 saw a 4-cent decrease.

All in all, when betting on Dogecoin prior to Saturday Night Live, bettors need to be just as cautious as investors.

News tags: Cryptocurrency | Dogecoin | Dogefather | Elon Musk | Saturday Night Live | SNL