Elon Musk's preferred cryptocurrency, dogecoin, is recognizable from its trademark picture of a dog – and that may be a fitting mascot for a new class of traders looking to be this generation's more domesticated "Wolf of Wall Street."
But even wolves get bitten, and new travelers on the cryptocurrency bandwagon were treated this weekend to a harsh lesson in reality, even if its only virtual reality. Musk's joke on "Saturday Night Live" that dogecoin was a "hustle" sent the crypto's value plummeting in minutes. Dogecoin lost more than a third of its price following Musk's mention.
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Marisa Herman, a Newsmax senior reporter, focuses on major and investigative stories. A University of Florida graduate, she has more than a decade of experience as a reporter for newspapers, magazines, and websites.