Dogecoin has plunged by more than 30% in value after Elon Musk poked fun at the cryptocurrency and called it a “hustle” in his Saturday Night Live hosting spot.

Musk’s appearance on the show last night (May 8) was expected to send the memecoin to new heights, but instead it dropped from around 70 cents before the show to just 47 cents as of the time of writing.

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