SpaceX plans to take Dogecoin to the actual moon by the first quarter of 2022.
SpaceX and Tesla CEO Elon Musk have, since the beginning of the year, showered praises and honor on the Dogecoin cryptocurrency. Simple tweets alone have caused the coin to surge massively. The billionaire has been the major driving momentum for the many price rallies and bullish markets the coin has experienced.
Major Updates
- Musk’s SNL appearance fails to rally Dogecoin prices to $1.
- SpaceX to launch Doge-1 next year, a Dogecoin-funded satellite.
- Dogecoin outranks XRP and Uniswap.
Following the not so good appearance on the SNL where Musk sent Doge prices nose-diving for the Bears, the coin has managed to recover although news from SpaceX could mean something greater for the currency.
Partnering up with the Geometric Energy Corp., SpaceX is looking to launch the Doge-1 satellite. It is a Doge-inspired space object shipped off to the moon on the Falcon 9 rocket. This project will kick off within the first quarter of 2022.
The Geometric Energies Chief Executive Samuel Reid explained that the partnership centered around the Doge currency had set a concrete base of exchange for the project's entirety. Therefore, they will be accepting Dogecoins and possibly exchange a good part of their cash reserve to carry on with the projects.
Vice President of Commercial Sales for SpaceX Tom Ochinero expressed his excitement for cryptocurrencies taking a step further out of the Earth’s orbit and creating a path for interplanetary commerce.
During the weekend, on SNL, Elon Musk failed to rise to expectations. Instead of praising the coin, he made certain statements that disregarded the framework of the Dogecoin currency.
Many fans believed that Musk’s appearance on the SNL show was what the coin needed to rise to a dollar. However, the market did rebound to a good measure later on.
The price dumped 0.36% bringing the 70cents coin down to 47cents. By Sunday evening, the coin managed to rise again to 57cents, as recorded by Coinbase.
Conclusion
Regardless, the bears still have not been able to outrun the bulls. The coin has achieved a lot this year, so much that it has debunked rankings of both Uniswap and XRP. Totals gains raked in have surpassed 400% and many price predictions are very much bullish.
Question of the Day
Where do you think Dogecoin is heading in the future?
