You Can Wager on Elon Musk Speaking Dogecoin on SNL

In short

  • An internet sportsbook is taking wagers on whether or not Elon Musk will point out Dogecoin throughout this weekend’s Saturday Evening Stay internet hosting gig.
  • You can too wager on whether or not Dogecoin’s value will attain $1 by Monday.

There was loads of hypothesis over whether or not Elon Musk will use this weekend’s look because the host of long-running TV present Saturday Evening Stay (SNL) to advertise Dogecoin, the Tesla and SpaceX CEO’s favourite cryptocurrency to tweet about. And in case you really feel strongly concerning the probabilities of that, now you possibly can wager on it—actually.

On-line sportsbook MyBookie has unveiled odds on whether or not or not Musk will point out DOGE throughout Saturday Evening Stay, and is taking bets in both directions. MyBookie presently lists odds of -500 that Musk will focus on DOGE, and +900 that Musk won’t point out the meme coin.

In case you wager $100 for Musk speaking about DOGE, then you definately would make $20 if he does. Then again, betting $100 in opposition to it may earn you a cool $900 if he abstains from discussing DOGE.

That’s not the one wager in play, both. A associated wager helps you to wager on whether or not the value of DOGE will hit $1 by Monday, Could 10, following the airing of Musk’s SNL look. The present odds are +145 for Sure and -190 for No, which suggests a $100 wager on Sure would earn you $145 if DOGE’s value hits that mark, whereas the identical wager on No would earn you $52.63 if it doesn’t.

Hitting $1 per coin has lengthy been a goal for the Dogecoin devoted, though it appeared almost inconceivable earlier than 2021. Nonetheless, the coin has risen from beneath $0.01 in January to an all-time excessive of $0.64 set earlier this week on Could 4, in keeping with Nomics, though different sources have listed a excessive of almost $0.69. As of this writing, Nomics studies that the present value of Dogecoin is simply off its excessive mark, sitting above $0.63 per coin.

Musk’s frequent, meme-tinged tweets about Dogecoin have reliably brought on the value of the “joke” cryptocurrency to rise, and he has tweeted out teases that it’ll function in his SNL gig. Final week, he tweeted out the phrases “The Dogefather” and “SNL Could 8,” and the value shortly jumped within the hours thereafter.

In truth, DOGE is up greater than 100% since then, though it’s unclear how a lot Musk’s social media exercise has impacted the longer-term good points. Musk isn’t the one outstanding billionaire singing the praises of Dogecoin as of late, both. Investor and Dallas Mavericks proprietor Mark Cuban is additionally huge on DOGE, and informed Decrypt throughout this week’s Ethereal Summit that he believes Dogecoin will attain $1 and finally act extra like a stablecoin.

Dogecoin followers beforehand tried to pump the value of the coin to $1 on the so-called “Doge Day” on April 20, however the influencer-led marketing campaign backfired: the value dropped 20% from the day past. Nonetheless, some assume that Musk’s SNL spot will deliver Doge Day redemption—and in case you imagine that, then there’s now multiple approach to put your cash the place your mouth is.

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