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Seeking Alpha 2021-05-08 14:33:09

Dogecoin trades with $92B market cap in front of Elon Musk's SNL appearance

Dogecoin (DOGE-USD) trades at $0.72 into the appearance tonight by Elon Musk on Saturday Night Live. Musk has tweeted often about Dogecoin, but has also stated that his endorsements have been meant to be jokes.What is not a joke is that Dogecoin trades with a market cap of over $92B after starting off 2021 trading at just over $0.01. That $92B market cap is higher than the value of Delta Air Lines and Southwest Airlines combined.Aside from Musk, Mark Cuban and Snoop Dogg have also publicly supported Dogecoin.Doubters point to the speculative nature of the cryptocurrency and the lack of development and protocol updates.Read Seeking Alpha's Catalyst Watch for a preview of some of next week's events of interest to investors.

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