CYBERSPACE—Adult virtual reality producer POVR, which accepts Dogecoin cryptocurrency as payment for memberships, says that it has seen a spike of 45 percent and climbing in those utilizing the crypto to purchase subsriptions over the two weeks leading up to entrepreneur Elon Musk's hosting gig this weekend on NBC's Saturday Night Live.
Musk has famously endorsed Dogecoin multiple times on social media and accepts it as payment for his Tesla automobiles, and he has promised that it will be featured in a sketch during Saturnight night's broadcast.
The meme-based cryptocurrency now ranks among the most valuable crypto assets in the world, and has also been propped up by billionaire and Dallas Mavericks owner Mark Cuban, who accepts it at the team's shop.
"Elon Musk's upcoming appearance on SNL has received a lot of attention," POVR's Darrell Rosebush said. "Not only are fans of the show genuinely curious, but his continued push of Dogecoin puts him in a rare position to raise awareness for crypto. What we see now are savvy investors wishing to capitalize on it all before his opening monologue."
Dogecoin is currently valued at close to $85 billion in total. This past weekend, Cuban tweeted, "As long as more companies take doge for products/services, then Doge can be a usable currency because it MAY hold its purchasing value better than a $ in your bank. If interest rates skyrocket or the amount spent falls or stagnates, so will Doge. Yes, a joke is now legit."
Observers call it fitting that Dogecoin is headed toward yet another bump thanks to SNL, as its very creation in 2013 was, according to lore, orignially intended as a joke.
