Will Elon Musk’s SNL appearance help Dogecoin break $1?

Online sportsbook MyBookie has been keeping track of people’s thoughts on what Musk will say and whether his comments will help Dogecoin break the elusive $1 barrier. Gamblers and investors, though, aren’t necessarily the same creatures.

Not surprisingly, prognosticators overwhelmingly expect Musk to mention Dogecoin at some point in the show. That’s logical, since he posted on Twitter when his gig was announced: “The Dogefather SNL May 8.” And a video of fans swarming Musk on the streets of NYC this week shows him teasing a discussion of the crypto.

Will that impact the price, though? Not according to those wagering on the outcome—at least, not immediately. The site’s odds are pretty firmly against Dogecoin hitting $1 by May 10.

Here’s a look at the numbers on both questions:

Will Musk mention DOGE on SNL this week?

Yes       –5000

No        +900

Will DOGE hit $1 USD by May 10, 2021?

Yes     +145

No      –190

To put that into real dollars, a $100 bet on whether he will mention DOGE at some point during SNL will pay just $2 if he does. Correctly bet against a mention and you could get a $1,000 payout. If you, however, put $100 on whether Doge will hit $1 by Monday, you’ll pocket $152.63 if it does.

Dogecoin, on Friday, was in something of a holding pattern as people waited for the show; the crypto fluctuated between 56¢ and 64¢, staying clear of its all-time high of 69¢. Year to date, Dogecoin is up 12,659%.

If you were one of the first to get a $1,400 stimulus check and would have invested that upon receiving it, it would be worth $14,362 today. 

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