Dogecoin's price surged sharply after Elon Musk reminisced about his participation in the Dogefather skit on Saturday Night Live. Meanwhile, ETFSwap (ETFS) is gaining traction in the DeFi community.
Elon Musk's Influence on Dogecoin
At the All-In summit on September 10, 2024, Tesla CEO Elon Musk reminisced about his funny Dogefather skit on Saturday Night Live in 2021. During the show's Weekend Update segment, Musk explained what Dogecoin was in character as cryptocurrency expert Lloyd Ostertag. The skit coincided with Dogecoin hitting an all-time high of $0.7375. Now, following Musk's mention of the skit, Dogecoin surged by 9.47%, reaching $0.104. Dogecoin's market capitalization also rose to $15.19 billion, and trading volume hit $576.58 million. However, these highs are not indicators of sustained recovery, as the price has retraced to $0.1005 in the last 24 hours. This scenario highlights Elon Musk's significant influence on Dogecoin's price.
ETFSwap (ETFS) Presale Stage
Despite the instability in the crypto market, ETFSwap (ETFS) continues to boost hope within the DeFi community. The token has shown incredible performance in the first two presale stages, with the third stage raising $1.29 million in three days. ETFSwap (ETFS) has attracted significant attention from crypto community analysts and experts who are buying the token in large amounts. Some analysts predict a 4680% price rally upon launch. The ETFSwap (ETFS) token plays an essential role on the platform, allowing users to swap and trade ETFs, and earn passive income with an 87% APR yield. Token holders also have voting rights within the platform's governance system, influencing its future development in line with their investment goals.
Conclusion
While Elon Musk's influence can temporarily boost Dogecoin's price, ETFSwap (ETFS) continues to show steady growth and interest in the crypto community.
Elon Musk's influence on Dogecoin's price remains significant. However, the stability and prospects of ETFSwap (ETFS) draw attention from analysts and experts.
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