Elon Musk Says 'It's Time' To Put Dogecoin On The Moon But It Is Not DOGE That Surges

4 days ago 2

Tesla (NASDAQ:TSLA) CEO Elon Musk has sent the terms of a Solana memecoin surging with an X station rekindling a 2021 Dogecoin promise.

“It’s time,” Musk said connected Nov. 3 connected X, referring to a 2021 committedness “to enactment a literal Dogecoin connected the literal moon” with a SpaceX ngo aptly named DOGE-1.

While the station successful erstwhile years would person sent DOGE soaring, the memecoin failed to react. Instead, it fell by arsenic overmuch arsenic 10%, from astir $0.19 to $0.16, amid a wide marketplace crash.

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Speculators, however, flocked to DOGE-1 Satellite, a Solana memecoin inspired by the abstraction project, sending the token surging 200% connected Nov. 3 from a marketplace capitalization of $3.45 cardinal to $10.25 million. The token continues to clasp onto immoderate of its gains, with its marketplace capitalization astir precocious astatine $7 million.

The DOGE-1 mission, planned by Canadian probe steadfast Geometric Energy Corporation and afloat funded with Dogecoin, aims to cod lunar information utilizing onboard sensors and cameras. It besides intends to broadcast ads and images backmost to Earth with a miniature screen.

DOGE-1 was initially scheduled for motorboat astatine the extremity of 2023, but has faced respective delays. Despite Musk’s remarks, it is present targeting a motorboat successful the 2nd fractional of 2026, according to caller details shared by Geometric CEO Samuel Reid.

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The ngo and Musk’s power had antecedently been large drivers of Dogecoin’s price. Public mentions by Musk successful peculiar person been wide attributed arsenic the catalyst for the memecoin’s grounds 13,000% tally successful 2021.

Musk, who famously called himself “The Dogefather” connected an occurrence of “Saturday Night Live,” has hailed the memecoin arsenic “the people’s crypto” and said it is simply a amended mean of speech than Bitcoin.

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