Interest in Dogecoin has been rising. According to Google data, there are more searches for Dogecoin than for Bitcoin. Particularly, from May 2 to May 8 the indicator for DOGE was 56/100 points and for BTC it was 48/100.
Related: Dogecoin Surpassed $0.7 before SNL's Hosting Elon Musk
This year Dogecoin's performance has been exciting. The coin's price reached a new all-time high surpassing $0.73 on May 8.However, on the same day, after Elon Musk's hosting the SNL, DOGE's price saw a decline falling at around $0.42. Afterwards, it has been hesitating between $0.4 and $0.6 and currently stands at around $0.5.
Dogecoin's ups and downs are greatly influenced by Elon Musk's comments about it. During the Saturday Night Live show when answering the question of what is Dogecoin, Space X CEO answered that it is the future of currency and is going to take over the world.
However, when the cast members insisted jokingly that they weren't getting the idea and asked whether DOGE is a hustle, Elon Musk laughed and said yes. Then he added, "to the moon". After the show DOGE's price fell significantly.
Later, on May 10 Elon Musk mentioned the cryptocurrency again in a tweet announcing that Space X is launching satellite Doge-1 to the moon next year.
Probably, the reason for the stop of the price falling was that tweet. Dogecoin ranks the 4th by market cap which stands at above $64.8 B.SpaceX launching satellite Doge-1 to the moon next year
— Elon Musk (@elonmusk) May 9, 2021
– Mission paid for in Doge
– 1st crypto in space
– 1st meme in space
To the mooooonnn!!https://t.co/xXfjGZVeUW