Should I buy Dogecoin ahead of Elon Musk’s potential clash with ‘SNL’ actors?

By: Jayson Derrick
Jayson Derrick
Jayson lives in Montreal with his wife and daughter, loves watching hockey, and is on a lifelong quest to… read more.
on May 5, 2021
  • Dogecoin backer Elon Musk is scheduled to host 'SNL' this weekend.
  • The self proclaimed 'Dogefather' will deliver an opening monologue before performing comedy sketches.
  • Dogecoin price could steal the show if Musk references the popular cryptocurrency.

Dogecoin flirted with the $0.70 level for the first time ever on Wednesday but the popular Elon Musk-backed DOGE fell back to the $0.60 level. It is likely that Dogecoin price could go through a period of volatility ahead of Musk’s Saturday Night Live debut.

Ahead of Musk’s much-anticipated SNL performance, several actors on the comedy sketch show expressed frustration with the guest host and threatened to sit out. Will this impact the price of Dogecoin? Does anyone looking to buy Dogecoin now even care?

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If you are among those who believe Dogecoin to the moon will proceed with or without a successful SNL performance, this guide on how to buy Dogecoin is for you.

How & where to buy Dogecoin ‘stock’ today

One of the more common mistakes among new investors is equating Dogecoin cryptocurrency with Dogecoin stock. To be clear: Dogecoin is a cryptocurrency — that is a digital or virtual currency. Since Dogecoin is not a company, grouping it with stocks is not accurate. 

But much like stocks, buying Dogecoin today can be accomplished through a reputable and trustworthy broker. Dogecoin trades under the ticker DOGE so checking out the up to the second live price of Dogecoin is easy and straightforward.

If investing in DOGE interests you, our team of financial experts sorted through multiple cryptocurrency brokers to select the best platforms do buy Dogecoin

1. eToro

One of the fastest-growing cryptocurrency brokers in 2021 is eToro. Fresh off a deal to soon become a public company itself, eToro recently added Dogecoin to its already large list of available cryptocurrencies to trade. If you are ready to invest in DOGE today, signing up to eToro is a smart move.

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2. Plus500

Plus500 is among the most reliable CFD brokers in the business. Investors looking to take advantage of the recent dip in Dogecoin price can take advantage of Plus500’s low fees and reputable platform.

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Will Dogecoin price escape SNL controversy?

For those that are not familiar with the “Saturday Night Live” show, it is among the most iconic American comedy sketch shows in US television history. A rotating celebrity guest delivers an opening monologue each week and then joins a regular cast in performing comedy sketches.

Musk took to Twitter to promote his appearance on “SNL” by crowning himself “The Dogefather” — a reference to the iconic “The Godfather” film trilogy.

Some of the “SNL” cast, some actors are not happy with potentially sharing the spotlight with DOGE coin’s backer. Several media outlets note that the issue with Musk might have nothing to do with Dogecoin. Musk’s anti-union stance, a history of online trolling, and spreading what experts believe to be misleading information about the COVID-19 pandemic are likely the main issues at play, rather than the DOGE cryptocurrency.

One media outlet noted an unwritten rule among SNL cast members that they are allowed to not perform if they are uncomfortable with a guest. While much can happen over the coming days, none of the actors have confirmed they will stage a boycott.

Will Dogecoin price be impacted by SNL?

Musk has arrived in New York City days before taking the stage at the iconic 30 Rockefeller Plaza’s studio. In traditional Musk fashion, he appears to be having fun with the new role and teased a sketch on Twitter that combines “Baby Shark” and “Shark Tank” to form Baby Shark Tank.

But ultimately the price of Dogecoin will unlikely be impacted by Musk combining a popular children’s musical video with an entrepreneurial-themed reality show. On the other hand, Dogecoin price could move on heavily volume while Musk hosts “SNL,” especially if he touts the merits of DOGE during his opening monologue.

Social media reaction

https://twitter.com/kfc_canada/status/1389951490211688453

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