Dogecoin Plunges during Elon Musk’s ‘Saturday Night Live’ appearance as Robinhood Experiences Difficulties

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The company told Business Insider that the crypto-trading platform was “back up and running” about 30 minutes after it first reported issues. Robinhood declined to comment on whether the issues were tied to the “SNL” performance.

Dogecoin from a joke, to a millionaire making machine

Dogecoin was originated in 2013 by IBM software engineer Billy Markus and Adobe software engineer Jackson Palmer. The cryptocurrency has surged by 13,000% year-to-date. Moreover, the Reddit group Wall Street Bets which sent GameStop stock to its all-time high rally earlier this year has also cheered Dogecoin.

The support that the cryptocurrency gained was thanks to the billionaire and CEO of Tesla (NASDAQ: TSLA) Elon Musk. The Technoking of Tesla has been defending the meme-based cryptocurrency on every occasion. Musk asked Coinbase to list Dogecoin on its exchange.

Charles Hoskinson the founder of Ethereum and Cardano criticized Musk for promoting Dogecoin. He argued that the digital token can face a bubble very soon.