Introduction:
SpaceX now accepts Dogecoin and it will be paid exclusively in the cryptocurrency to launch an upcoming satellite named DOGE-1 to the moon. DOGE-1 is a CubeSat. It will acquire “lunar spatial intelligence” through onboard cameras and sensors. This is a venture by Geometric Energy Corporation. The satellite will fly on a Falcon 9 rocket in the first quarter of 2022. Dogecoin, a cryptocurrency, has started a goofy meme. But now, it has become a more valuable meme since it has seen a lot of trade spikes. It has also caused a lot of crashes in the trading app called Robinhood.
The “Dogefather” moniker:
Elon Musk highly supports the coin profile. He often tweets Dogecoin memes, and also refers to himself as the “Dogefather”. Musk is going to hype it up on Saturday Night Live. Investors like to talk about sending Dogecoin’s valuation “to the Moon”. Therefore, we have covered the news of sending a satellite named DOGE-1. They paid Musk’s Company in Dogecoin cryptocurrency to the Moon.
Elon Musk tweeted the following: “SpaceX is going to put a literal Dogecoin on the literal moon.”
Given all that, SpaceX includes in the announcement the exact quote one might assume Musk mandated the company include: “We’re excited to launch DOGE-1 to the Moon!” said SpaceX vice president of commercial sales Tom Ochinero. It has been great news for Dogecoin following a tough week. After a spike in price, falling around a Robinhood crash, it spiked again. This happens in the anticipation of Musk’s SNL appearance. The cryptocurrency crashed overnight following a segment where Musk jokes about Dogecoin as a “hustle”.
How Ochinero takes it:
The announcement fights back against the narrative. According to Ochinero, the partnership sets “the foundation for interplanetary commerce.” Geometric Energy Corporation CEO says the transaction “solidified DOGE as a unit of account for lunar business in the space sector.”
The press release says that Dogecoin is “sophisticated enough to finance a commercial Moon mission in full”. It will also be used for lunar business within both companies. (Musk’s other company, Tesla, also started to accept Bitcoin as a currency). If everything goes as planned, Dogecoin will send DOGE-1 to the Moon next year. Will that make Dogecoin reach the Moon? It depends on how much the companies hype it.
