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Elon Musk SNL’s appearance affects dogecoin value

Elon Musk

Billionaire Elon Musk hosted Saturday Night Live this weekend, boosting ratings and causing the value of the cryptocurrency he promotes, dogecoin, to fluctuate. His support of dogecoin has been done in jest, but has really helped the value. The Associated Press has the story:

Billionaire Elon Musk’s explosive SNL appearance increases ratings, affects cryptocurrency

LOS ANGELES (AP) — Elon Musk moved a cryptocurrency’s value and TV ratings with his “Saturday Night Live” appearance.

Last weekend’s show averaged 7.3 million viewers, making it the third most-watched episode for the season behind the ones hosted by Dave Chappelle and Chris Rock, according to Nielsen figures.

A good outcome for the billionaire’s first time hosting “SNL,” although reviews of his attempts at comedy ranged from charitable to meh.

The biggest pan, however, may be the response to jokes mocking the cryptocurrency dogecoin, for which Musk actually has been a steadfast booster: In the hour after the show started, dogecoin’s already volatile price fell 23% and bounced up and down the following day.

“Saturday Night Live” included an opening exchange between Musk and his mother, who grimaced when he said that dogecoin would be her Mother’s Day gift, and an “Update” bit in which Musk appeared as a faux financial analyst, Lloyd Ostertag.

This image released by NBC shows host Elon Musk with his mother Maye as he delivers his opening monologue on “Saturday Night Live” in New York on May 8, 2021. (Will Heath/NBC via AP)

Anchor Michael Che reacts to Ostertag’s convoluted description of dogecoin as the future of currency with deep skepticism, calling it a “hustle.” Musk in character echoes the sentiment: “Yeah, it’s a hustle.”

In prime-time last week, CBS was the most-watched network with an average 4.8 million viewers. NBC had 3.2 million, ABC had 3 million, Fox had 2.3 million, Univision had 1.3 million and Telemundo had 960,000.

Fox News Channel topped the cable networks, averaging 2.1 million viewers in prime time. MSNBC had 1.5 million, HGTV had 1.2 million and CNN had 907,000.

ABC’s “World News Tonight” was first in the evening news ratings contest, averaging 7.95 million viewers. NBC’s “Nightly News” had 6.46 million and the “CBS Evening News” had 4.86 million.

This image released by NBC shows, from left, Colin Jost, Michael Che, and host Elon Musk as financial expert Lloyd Ostertag during the “Weekend Update” sketch on “Saturday Night Live,” in New York on May 8, 2021. (Will Heath/NBC via AP)

For the week of May 3-9, the top 20 programs, their networks and viewerships:

1. “NCIS,” CBS, 8.68 million.

2. “FBI,” CBS, 8.06 million.

3. “60 Minutes,” CBS, 7.78 million.

4. “The Equalizer,” CBS, 7.224 million.

5. “Chicago Fire,” NBC, 7.221 million.

6. “Chicago Med,” NBC, 7.09 million.

7. “Young Sheldon,” CBS, 6.64 million.

8. “911,” Fox, 5.91 million.

9. “Blue Bloods,” CBS, 5.87 million.

10. “American Idol,” ABC, 5.74 million.

11. “Chicago P.D.,” NBC. 5.69 million.

12. “The Voice,” NBC, 5.64 million.

13. “NCIS: Los Angeles,” CBS, 5.60 million.

14. “Bull,” CBS, 5.53 million.

15. “FBI: Most Wanted,” CBS, 4.89 million.

16. “Mom,” CBS, 5.29 million.

17. “The Neighborhood,” CBS, 5.19 million.

18. “911: Lone Star,” Fox, 5.11 million.

19. “Magnum, P.I.,” CBS, 5 million.

  1. “NCIS: new Orleans,” CBS, 4.96 million.


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