It was Musk’s mother Maye who name-dropped Dogecoin in the opening skit, saying she hoped it wouldn’t be her Mother’s Day gift.

“It sure is,” replied the SpaceX and Tesla founder.

Musk then made an appearance on the ‘Weekend Update’ segment as a financial analyst calling himself the “Dogefather,” hyping the cryptocurrency before agreeing with the cast members that “it’s a hustle.”

After going up slightly as the comedy show went live, the price of Dogecoin – a meme cryptocurrency with an estimated capitalization of $90 billion by now – went into free fall. It was down by almost 27%, going from 66 cents to 50 cents, in the space of an hour.