Dogecoin (DOGE) Literally Going to the Moon with Elon Musk’s SpaceX
Dogecoin to be the first crypto and meme to be in space with satellite Doge-1 and “set the foundation for interplanetary commerce.”
This past Saturday, after being disappointed with no endorsement from Musk during his stint on SNL, DOGE enthusiasts finally got their wish when he announced in the early hours of Monday that he would be literally taking the coin to the moon.
“SpaceX launching satellite Doge-1 to the moon next year,” announced Musk noting that it will be the first crypto and first meme in space. “To the mooooonnn!!” he added.
His tweet has garnered 416.2k likes and 113k retweets as of writing.
— Elon Musk (@elonmusk) May 10, 2021
SpaceX will be launching the “DOGE-1 Mission to the Moon” in the first quarter of next year, with the meme cryptocurrency accepted as payment for the mission.
The dogecoin-funded mission was announced by Geometric Energy Corporation on Sunday. The mission’s financial value was not disclosed.
DOGE-1 will be flying a 40-kilogram cube satellite as a payload on a Falcon 9 rocket, with Geometric Energy Corporation saying its payload “will obtain lunar-spatial intelligence from sensors and cameras on-board with integrated communications and computational systems.”
DOGE-1 “will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce,” said SpaceX vice president of commercial sales Tom Ochinero in a statement. “We’re excited to launch DOGE-1 to the Moon!”
On Saturday, the DOGE price topped out at $0.743 before falling to $0.419. As of writing this, the coin is trading at $0.5026, sitting at the 4th spot with a market cap of $64.95 billion.
During the sell-off, after what looks like a local top, Barry Silbert, the founder, and CEO of Digital Currency Group, announced that he is shorting DOGE.
“Okay DOGE peeps, it's been fun. Welcome to crypto! But the time has come for you to convert your DOGE to BTC,” he added. While looking like a good opportunity at the time, it might not be such a good idea now.