|
|

|
|

Dogecoin lost more than a third of its price on Sunday after Elon Musk called it a ‘hustle’ during his guest-host spot on the Saturday Night Live (SNL).
Dogecoin was quoted as low as $0.416 on crypto exchange Binance, down 36% from levels around $0.65 before the show.
Cryptocurrency enthusiasts had for days been eager to see what he would say, after his tweets, this year turned the once-obscure digital currency, which began as a social media joke, into a speculator’s dream.
Asked ‘what is dogecoin’, Musk replied, “It’s the future of currency. It’s an unstoppable financial vehicle that’s going to take over the world.”
When a show cast member Michael Che countered, “So, it’s a hustle?”, Musk replied, “Yeah, it’s a hustle,” and laughed.
Musk is the rare business mogul to have been asked to host the venerable comedy TV show. His appearance on the iconic late-night show puts Musk back in the spotlight just as Tesla’s stock is losing steam following last year’s monster rally.
The unconventional CEO has posted numerous comments about cryptocurrencies on Twitter and criticized regular cash for having negative real interest rates. ‘Only a fool wouldn’t look elsewhere,” he said in February.
His cryptic tweets “Doge” and “Dogecoin is the people’s crypto” that month kicked off a rally in dogecoin – created as a parody on the more mainstream bitcoin and ethereum.
On Thursday, Musk tweeted: “Cryptocurrency is promising, but please invest with caution!” with a video clip attached in which he said, “it should be considered speculation at this point.”
But he also said, in the video, that cryptocurrency has a “good chance” of becoming what he called “the future currency of the Earth.”
Some financial commentators questioned whether it was responsible for Musk to comment on the cryptocurrency, given he has the power to move its price.
“I think he’s having a lot of fun … He can say anything he wants about dogecoin or cryptos fully aware that just him saying something moves the price,” said James Angel, associate professor at Georgetown University’s McDonough School of Business, who specializes in financial markets and cryptocurrency.
“Anyone who wants to play the Elon Musk game should be prepared to lose all their money.”
The flood of selling appeared to cause problems for popular retail trading platform Robinhood, which tweeted early on Sunday that due to high trading volume and volatility some customers had experienced “intermittent issues” trading cryptocurrencies.
The company later said the issues had been resolved and that it would contact customers affected by the downtime.
On crypto data tracker CoinGecko.com, dogecoin has jumped more than 800% over the last month and is now the fourth-largest digital currency, with a market capitalization of $73 billion. It hit a record high Thursday above $0.73.
Tesla said in February it bought $1.5 billion worth of bitcoin and would soon accept it as a form of payment for its electric cars, a large stride toward mainstream acceptance that sent bitcoin soaring to a record high of nearly $62,000.
Tesla shares closed 1.3% higher at $672.37 on Friday.
Some crypto experts said that Sunday’s dogecoin selloff was driven by speculation and that Musk had not hurt its long-term prospects.
“Long term fundamentals of doge are intact. This is a buying opportunity,” said Jehan Chu, managing partner at Hong Kong blockchain venture capital firm Kenetic Capital.
“It’s a true social currency – that’s its value.”

|
|

|
|

Honda has increased the prices of its motorcycles for the fourth time this year bringing the new CD70 (cash deposit) to Rs84,500.
Furthermore, the famous Honda CG-125 has seen a price hike of Rs3,000 as it will now cost Rs139,500 against the old price of Rs 136,500. The price for CD70-Dream has jumped to Rs 90,500 after an increase of Rs2,600.

The new price of CG-125 (self starter) is now 167,500, while the price of a CB-125F is Rs200,500. CB-150F is for Rs255,500 after an increase of Rs3,000.
Earlier in April 2021, the motorbikes manufacturing company increased the prices up to Rs1,600 of Honda CD70, CD dream and Honda Pridor. The Honda CG125, CG 125F, Honda CG 125s, and Honda CB 150F each witnessed a price jump of Rs1,600.
The increase in the prices is happening now for the fourth time in 2021. First, the company increased the prices on New Year’s Eve. One month later, the company announced another price increase on February 1.
Honda Atlas has not provided any reason for price inflation. The value of the rupee had strengthened against the dollar and the general public was naturally expecting a decrease in the price, but Honda has lambasted people with four consecutive price hikes.
Lastly, Honda Atlas is famous for monotony in technology and design. Since the 1990s, Honda hasn’t brought any technical or aesthetical innovation to its bikes. In an insult to injury, the general sentiment is that the quality of bikes has further deteriorated.
How would you rate this attitude of Honda? Let us know in the comment section.

|
|

|
|

|
|

|
|

|
|