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Dogecoin is crashing while Elon Musk is on Saturday Night Live

The tumble of a joke cryptocurrency was caused, fittingly, by another joke

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While Elon Musk hosted Saturday Night Live, Dogecoin investors sold. When SNL first went live, the cryptocurrency hovered around 69 cents (nice). But as the show wore on, the price dropped. As of this writing, it is worth 56 cents, an 18 percent plunge.

There was a slight recovery when Musk — on “Weekend Update,” SNL’s parody news program — explained to a bewildered Michael Che and Colin Jost what Dogecoin was. (“A hustle,” Che finally said, knowingly.) He also called himself the “Dogefather.”

As if to celebrate, trading platform Robinhood promptly crashed for cryptocurrency users. Earlier this week, Robinhood tweeted, “We’re all paws on deck, all weekend. [rocket emoji]” (I need the S-1.) A month ago, the trading platform crashed during a Dogecoin rally.

Correction: This article initially flubbed the percentage change math — saying what was really was an 18 percent dive was just a 12 percent drop. We apologize for the late-night math error.