Analysts are predicting that the market madness over internet-meme-based cryptocurrency Dogecoin could reach a fever pitch in the next few days.
That’s as Elon Musk—king of cryptic tweets and hype culture—is set to take the stage as host of Saturday Night Live this weekend.
As part of the gig, the Tesla and SpaceX CEO will deliver the show’s opening monologue, then perform a packed schedule of scripted skits with its cast of comedians.
Given how Musk has masterfully commanded social media to build a cult-level following for his entrepreneurial ventures, it’s likely he could use this newest platform—an Emmy-award-winning TV show with 9.1 million viewers—to push his latest interest, which seems to be Dogecoin. Musk’s bullish tweets on cryptocurrency have helped fuel a staggering 11,770% increase in the token’s value year-to-date, from around half a cent to 60 cents midday Thursday. It spiked more than 100% in the past week, after Musk tweeted “The Dogefather SNL May 8,” prompting speculation over a Doge-themed skit.