Tesla and SpaceX owner and Billionaire, Elon Musk has recently announced the launching of a space mission next year. The mission will be held under the banner of SpaceX and will be completed paid for in Dogecoin.
The announcement of the satellite mission has hyped the popular meme crypto-token, Dogecoin. Elon said in the announcement that Doge-1 will be ‘the first crypto and the first meme in space’.
Dogecoin and Elon Musk
Elon Musk has always advocated the Dogecoin. Many of his statements and tweets have soared the value of the coin, which was started as a joke in 2013. Today, it is valued as the fourth largest cryptocurrency in terms of its market cap.
The price of Dogecoin unexpectedly crashed from an all-time high of $0.72. This crash was a result of Elon’s SNL appearance where he repeatedly mentioned Doge, and also described it as a ‘hustle’. Many panic sellers sold their assets and there was a major shift in the market. However, his recent statement has helped Doge to regain its glory by experiencing a surge of around 30%.
Elon Musk had also promised to put ‘a literal Dogecoin on the literal moon’. The way he has pursued this project we might see this happening somewhere in the near future as well. His announcement came in the form of a tweet which also gave a link to the official Dogecoin song – To the Moon!
The satellite mission will be paid for in Doge which can be a massive boost for the crypto token. Many researchers and crypto experts termed Doge as a joke or a bubble that was soon to burst. However, the constant support from Musk and his determination to make it the next big thing in the crypto market has surely provided a break to Doge. Such announcements can also help the cause, and we can soon see Doge touching the $1 mark. This will be an amazing feat for the coin and will stabilize the market in the longer run.
Elon Musk had also previously launched his own Tesla car into space. So, this is not the first time he is planning to send something unusual in the space. His constant efforts and willingness to take on new challenges have proven to fetch fairly positive results for him. Thus, we are yet to see how this project of Elon unfolds in the future. Also, how it impacts the performance of Dogecoin in the crypto market.
