SpaceX, Elon Musk’s company, will launch a space mission funded with Dogecoin (DOGE). The goal? Promoting interplanetary trade thanks to cryptocurrency.
SpaceX sends Dogecoin (DOGE) into space
As explained in a press release from Geometric Energy Corporation, the mission – dubbed DOGE-1 – will be launched using a Space X Falcon 9 rocket. A 40 kg satellite will be transported to” obtain lunar and space data thanks to sensors and onboard cameras.”
The mission is expected to launch in the first quarter of 2022. SpaceX funded the project with Dogecoin (DOGE): this is the first time a cryptocurrency has been used to initiate this magnitude.
Geometric Energy Corporation CEO Samuel Reid has confirmed that Dogecoin integration is not only meant to grab the headlines but to bolster altcoin’s status: “By officially using the DOGE for a deal of this magnitude, Geometric Energy Corporation and SpaceX have solidified the DOGE as a unit of account for lunar activities in the space segment.”
Dogecoin promote interplanetary trade?
The statement explains that the DOGE will now be part of SpaceX’s arsenal for years to come: “[The Dogecoin] was chosen for all the agreements between SpaceX and Geometric Energy Corporation: it sets a precedent for our future missions on La Lune and Mars. “
The company also believes that this lunar mission creates a solid foundation for developing “interplanetary commerce” through cryptocurrencies.
Dogecoin Madness (DOGE) after the fall
The news should, in any case, not calm the frenzy that has surrounded the Dogecoin (DOGE) for months. Last week, altcoin broke record after record before Elon Musk (who called himself “Dogefather”) appeared on Saturday Night Live.
The price of the DOGE had subsequently experienced a marked fall, losing -43% in just over a day, to reach $0.45:
Source: TradingView, DOGE / USDT
The case of Dogecoin clearly shows the absurdity that can sometimes seize the crypto community. While it was a forgotten and undeveloped altcoin, the DOGE reached cult cryptocurrency status.
It is now used to finance very serious space missions. It is therefore impossible to know if SpaceX will make it possible to consolidate the place of altcoin permanently or if the latter will lose its position when the spotlight is no longer directed at it