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Could Elon Musk Hosting The SNL Cause a Bump in Tesla or Dogecoin?

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Could Elon Musk Hosting The SNL Cause a Bump in Tesla or Dogecoin?

The CEO of Tesla Inc., Elon Musk, is set to host NBC’s Emmy Award-winning late-night comedy show on May 8 this year. The Saturday Night Live (SNL) show will be entering its 46th season. On May 8. Elon Musk will be joined by another guest, the musical Miley Cyrus. The comedy show is expected to bring more fans to Saturday Night Live.

With this task that Elon Musk has landed, it has raised eyebrows globally on whether it will affect Dogecoin as well as his company, Tesla. Additionally, this news has not been taken well, especially to the Saturday Night Live fans. Most fans have aired out their critics on various social media platforms. These tantrums are because Elon is not from the world of entertainment leave alone comedy.

With all the negative vibes, Elon will need to be extra careful on what he says during the show so that it may not have any adverse effect on both Tesla Inc and Dogecoin. Giving too many specifics about Tesla and Dogecoin could make Elon be featured in parodies and skits that look at electric vehicles.

ALSO READ | Elon Musk Tweet "The Dogefather" Leaves Dogecoin Price Rising High Once Again

Why the Show May Be Important

The Saturday Night Live show, which airs on NBC every Saturday, has a couple of seasons where it gives high-profile people, celebrities, influential people, and many more to host the comedy show. With Elon on board on May 8, the show will be airing outside the trading hours for Tesla shares.

Whatever angle Elon decides to take, it will have an impact on Tesla Inc. Whatever will be interpreted, or the type of appearance that will be received by the audience and the scavengers reporters who will be ready to take notes, Tesla shares could see a reaction on the following week when its market resumes after the weekend. Dogecoin, on the other hand, never sleeps and so it can be traded throughout the show.

With the right choice of words, Tesla may receive an increase in its shares on Monday the 10th while Dogecoin may be traded more. So far, a tweet from Elon on his Twitter account saying “The Dogefather” and also listing the Saturday Night Live show did send Dogecoin up by 8% on Wednesday 28. At the time of tweeting, Dogecoin was trading at $0.3293, and Tesla Inc.’s shares closed on Friday, April 30, at $709.23.

So, think about it, if a single tweet raised excitement among the Dogecoin traders, how about if he says something impactful during his hosting hour? His statement may make these Dogecoin figures increase.

Dogecoin to Be Featured on SNL

Elon on this Twitter account gave his fans and Dogecoin traders a hint that something on Dogecoin will be featured in Saturday Night Live comedy show on its next episode May 8. Musk asked for skits ideas from his fans, and a fan tweeted back by telling him “Summin about the Dogefather”, and Elon replied with a tweet “Definitely.”

For a while now, Elon Musk has been a massive supporter of Dogecoin. On the cryptocurrency chart, Dogecoin is the sixth-largest by market cap. The electric vehicle CEO tweets on Twitter at times do impact the price of the cryptocurrency. It is alleged that his company investing in Dogecoin helped boost Dogecoin profits.

ALSO READ | Has Elon Musk sold Out Some of his Bitcoins?

Winding Up

We all are waiting for Saturday Night Live. I mean, we all would want to know how a billionaire such as Elon Musk would host a comedy show considering entertainment is not his area of expertise. Joke or not, we hope that after the long-awaited weekend, something positive will come out of it in terms of Tesla Inc. as well as Dogecoin.