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Dogecoin Returns to Top 5 Ahead of Elon Musk's "SNL" Debut

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Mon, 05/03/2021 - 19:00
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Alex Dovbnya
Dogecoin is zeroing in on a new all-time high after surpassing Tether
Dogecoin Returns to Top 5 Ahead of Elon Musk's "SNL" Debut
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While Ethereum might be stealing all the spotlight this Monday with numerous all-time highs, Dogecoin (DOGE) is trying to catch up. 

The meme cryptocurrency has returned to the CoinMarketCap top 5, currently trading at $0.41 on the Bitstamp exchange.

Doge
Image by coinmarketcap.com

The joke coin is only 8.5 percent away from surpassing its previous all-time high of $0.45 that was recorded on Apr. 16.                

Related
Mark Cuban Sees Dogecoin Becoming Viable Currency

As ludicrous as it may sound, Elon Musk's "Saturday Night Live" hosting debut appears to be the main headwind for Dogecoin as of recently. Its price had several major spikes over the past week that were directly linked to the Tesla CEO mentioning the "Dogefather" meme on Twitter. 

It remains to be seen whether May 8 will be the day DOGE explodes into mainstream consciousness or another dud like "Dogeday." 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.