The meme coin rallied to $0.39 on the Binance exchange following Musk's tweet but has failed short of reclaiming its all-time high of $0.45.
Nevertheless, Dogecoin is currently the best-performing crypto in the CoinMarketCAp top 10, dwarfing Ethereum's gains.
As reported by U.Today, the Shiba Inu-themed token added billions to its market cap after Musk tweeted "The Dogefather" meme together with the date of his "SNL" appearance last week.
Staying true to his style, the billionaire didn't reveal anything else about his cryptic tweet, but crypto Twitter was rife with speculation.
Musk will make his hosting debut on "SNL" on May 8, the day Dogecoin might finally become part of pop culture.
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