Dogecoin Price Predictions: Can DOGE Hit 50 Cents After SNL Debut?

Elon Musk’s Saturday Night Live episode airs this weekend, on May 8. As the world ambassador to Dogecoin (CCC:DOGE-USD), crypto investors are at the edge of their seats, anticipating a DOGE name-drop. Dogecoin price predictions are heating up this week ahead of a huge weekend for the coin as well as a potentially huge weekend upcoming.

A gold Dogecoin (DOGE) token stands upright with several BTC tokens laying flat.

Source: Shutterstock

Dogecoin spent the last 24 hours in a booming state. It  gained over 43% and has found its footing once again near the 40-cent mark. In mid-April, the coin was in a similar position, but suffered from a hard correction that brought its price down to around 25 cents. Investors are hoping the surge today will lead to something different.

Investors should expect things to be different this time. Where the last surge saw the coin use up all its steam and fail out on #DogeDay, investors have bullish indicators and incoming catalysts lined up. Firstly, the coin’s market capitalization surpassed $50 billion today. The meme coin, once the runt of the crypto litter, is now a big dog with more value than storied automaker Ford (NYSE:F) and social media titan Twitter (NYSE:TWTR).

Secondly, DOGE holders have the Elon Musk SNL episode to look forward to. Musk can’t seem to keep Dogecoin out of his mouth, and the altcoin’s investors love it. Doge Twitter is ablaze with hype ahead of the episode. And many are predicting a DOGE mention on the airwaves will lead to upward catalysts.

This user, for example, is one of many bullish Dogecoin fans who believe the asset will reach the 50-cent mark before the next weekend is out.

Elon Musk SNL Appearance Driving Dogecoin Price Predictions

These factors are making investors awfully excited about the future of Dogecoin. Let’s take a look at what some analysts’ Dogecoin price predictions are saying about the crypto:

  • InvestingCube is labeling Dogecoin as a buy this week. They believe that as bulls target a new all-time high, the coin will push past the resistance level that held it back on #DogeDay.
  • FXStreet is more bearish this week. They believe the longer the coin hovers below the 42-cent resistance level, the less likely it is to catapult upward.
  • PrimeXBT’s indicators suggest that this is a breakout moment for DOGE. While they predicted the period to come later, this is the movement the outlet predicted before a long surge.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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