Tonight, Elon Musk will finally host the popular Saturday Night Live (SNL) television show. Since its confirmation, there has been a lot of speculation that it will take the opportunity to promote its favorite cryptoasset: DOGE. With this in mind, investors have been raising prices.
In the last 7 days, the coin has almost doubled. Starting from the week just under $ 0.37, the token has reached the weekend above $ 0.70 to mark a new all-time high. With a market capitalization of just over $ 97 billion, the coin is $ 6 billion short of placing BNB in third place. Not bad for a crypto that started out as a joke / meme.
In the last week, its popularity has further prompted Gemini and Binance to list it on their platforms. This has exposed the digital asset to more investors, and Robinhood was previously the only platform pushing the token to retail investors.
However, there is still much controversy about its usefulness and centralization. Some market leaders have criticized the fact that the coin has neither utility nor innovative development. Doge is a bubble that will ultimately cause most retailers to lose a lot of money, Cardano's Hoskinson believes. There has also been controversy over its centralization.
Despite this, one in four Americans believe that Dogecoin is the new Bitcoin. The token has had a phenomenal couple of months, in part because of Musk's mentions. With more and more FOMO investors around it, it is expected to keep rising.
Token holders expect the digital asset to top $ 1 by the end of the weekend, by which time it will have moved to BNB. However, it all depends on Elon Musk making a mention, a positive mention. In the past, he suggested that DOGE could end up becoming the world's currency as life likes irony and DOGE started out as a joke. A comment of the same nature will likely send prices to the desired levels.
You can bet Elon mentions DOGE and the price hits $ 1
With the entire crypto community eagerly awaiting Musk's appearance, online sportsbook MyBookie has revealed a bet on whether it will mention DOGE and whether it will hit $ 1 by Monday. The odds are currently in favor of Musk mentioning the meme coin, as well as the price hitting $ 1 early next week. By betting $ 100 that he will mention it, and he does, you will win the $ 20 bet. If you put the same $ 100 that you don't mention, and you don't, you will win $ 900.
The other bet is if DOGE will hit $ 1 by May 10. The odds are in favor of the digital asset catching up to it. If $ 100 is put into it reaching $ 1 and it does, you earn $ 45. If you place the same bet and you don't, the profit is approximately $ 53.