The value of dogecoin, the cryptocurrency inspired by the popular Shiba Inu meme, sank shortly after the long-anticipated appearance of Elon Musk on popular US television variety show ‘Saturday Night Live’.
RT’s Boom Bust talked to Tobin Smith of Transformity Research to understand whether there’s any value to the cryptocurrency that was heavily boosted by the eccentric billionaire’s tweets.
“It’s a good sentiment indicator, that’s exactly what it is,” Smith said, stressing that sentiment is one thing and value is another.
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This post originally appeared on RT Business News