Elon Musk Autographs Toy Tesla Car, Asks Fans About Dogecoin Ahead Of 'SNL' Performance

Tech tycoon and CEO of electric automaker Tesla Inc. (NASDAQ: TSLA) Elon Musk was asked to tout Dogecoin (CRYPTO: DOGE) during his appearance on "Saturday Night Live" on May 8.

What Happened: A video of Musk signing autographs on the streets of New York shows him asking what the people who surrounded him think he should do during his Saturday Night Live appearance, to which many answered chanting "DOGE."

Elon asking what he should do at SNL. “Is #doge the number one choice?” #DogeFather 🚀🚀🚀🚀🚀🚀🚀🚀#dogecoin #DogecoinToTheMoon pic.twitter.com/0E0A6ENSq6

— dogeallday✨ (@dogeallnight) May 5, 2021

He then asked if DOGE was someone's "number one choice," and several people said yes.

When Musk was asked whether he'll make a lot of jokes about the cryptocurrency, he simply said, "We will see."

See Also: How To Buy Dogecoin

Why It Matters: Musk's reaction is not surprising given recent reports that Musk already suggested Dogecoin as a topic during his appearance at Saturday Night Live. The coin has recently been rallying again after seeing its price increase by nearly 55% within 24 hours and breaching 60-cents for the first time ever on Tuesday.
In late April, Dogecoin reached a market cap of $54.45 billion, making the network more valuable than Ford Motor (NYSE: F) and Kraft Heinz (NASDAQ: KHC).

Price Action: As of press time, the cryptocurrency was trading at $0.6139 with a market cap of over $78 billion, which is higher than the valuation of BNP Paribas, the Canadian National Railway, or Dell. 

Image: Screenshot of YouTube video by Adam's Apple