"A lot of things depend on what Elon Musk does, and what he says. Everyone is holding the phone, everyone wants to be focused because they don't want to be a loser."
Musk kicked off his series with a tweet Friday night with a photo of him and two other show guests star of The Kid Laroi and singer Miley Cyrus. Notably, the photo also photoshop added a photo of the dog Shibu Ina, the symbol of the digital currency Dogecoin. Instantly, Dogecoin's price rose to an all-time high, to 72 cents before falling slightly. The sharp volatility of cryptocurrency prices has prompted central banks recently to warn that buyers should be prepared to lose all their money.
Cortez is just one of the many people who are crazy about Dogecoin - a digital coin that came from a joke turned into an opportunity to enrich many investors.
Typically the case of Ramy Bekhiet - a 27-year-old engineer from New Jersey. Last year, he spent about $ 750 buying 250,000 Dogecoins while trading at $ 0.003 per Dogecoin. However, at Friday's price, when Dogecoin was trading at 70 cents / 1 coin, Ramy's investment is now worth $ 175,000
Dogecoin price has increased by a staggering 12,000% this year and around 30,000% since its lowest level in July last year. The fact that Dogecoin is traded at a very small price makes Dogecoin interesting, accessible and cheap, attracting many investors, both ordinary people and celebrities.
Dogecoin's market value is currently estimated at $ 88 billion, up from $ 35 billion last week.
Musk was formerly an open-minded crypto advocate and in the past he was a big contributor to Dogecoin's price fluctuations through his Twitter shares.
Ramy said he wouldn't be surprised if Dogecoin hit 80-90 cents after Musk's arrival tonight and then plummeted when everyone wanted to cash out. But Ramy is still wondering if that price increase will happen before or after Musk's show airs.
"Everyone is pushing for Dogecoin to get there."
He invited about 30 people to watch the show via a large projector in his backyard. Ramy said he will continuously monitor two computer screens, one showing Dogecoin price and one screen showing the price list of the entire crypto market. "We'll see if what Musk says really affects the market."
Earlier this week, when reporters tried to approach Musk and questioned whether he would make a point of view on Dogecoin on the show. However, Elon Musk did not disclose anything. As he got into his car, someone standing across the street pleaded with Musk: "Please say something about Dogecoin on Twitter".
Yosef Adelman, 34, from Los Angeles, has been trading Dogecoin since 2019. Most recently, he sold at 62 cents / 1 Dogecoin on Tuesday, after buying for around 22 cents a few weeks earlier. As of Wednesday, he no longer holds any Dogecoins but he is intending to re-enter the market before Musk appears on SNL.
Dogecoin investors all over the world hold their breath, on hand, the crypto trading app is open to wait for Elon Musk's talkshow tonight.
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