Dogecoin loses third of price after Elon Musk calls it a 'hustle' on 'SNL'

In a photo provided by NBC, "Saturday Night Live" host Elon Musk appears during the "New Detective Show" sketch Saturday, May 8, 2021, in New York. - AP

NEW YORK: Dogecoin lost more than a third of its price on Sunday, after Tesla chief and cryptocurrency supporter Elon Musk called it a 'hustle' during his guest-host spot https://twitter.com/cryptoafricaedu/status/1391373668744372225?s=21 on the "Saturday Night Live" comedy sketch TV show.

Dogecoin was quoted as low as $0.416 on crypto exchange Binance https://www.binance.com/en/trade/DOGE_USDT?type=spot, down 36% from levels around $0.65 before the show. It retraced some of that move later on Sunday, and was last trading around $0.569.