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SpaceX sends Dogecoin-funded satellites

Updated: Mar 28

SpaceX sends Dogecoin-funded satellites

The space company SpaceX plans to send a satellite to the moon in the coming year, which was managed entirely by the cryptocurrency Dogecoin. The Doge-1 is ready to go to the moon, as the Canadian company, which will lead the mission announced on Sunday. SpaceX founder is actually true as a great advocate of Dogecoin. Off to the Moon!, he tweeted after the plan was announced. The day before, however, he had brought the cryptocurrency to collapse through statements on a US show.

The Fourth Largest Cryptocurrency

Once only intended as a parody of the most important and known cyber currency Bitcoin and distributed as a meme online, Dogecoin is now one of the four largest digital currencies - with a value of around 55 billion dollars. Compared to Bitcoin, where the value of all thalers in circulation is currently almost 900 billion dollars, that is only a fraction. However, Dogecoin has many prominent supporters such as rappers, what accelerated the ascent like a star. In January, a Dogecoin cost less than a cent. But suddenly the price soared.

Accordingly, it is very likely that the satellite mission is more of a marketing stunt by the client than a serious scientific test. According to SpaceX manager, Doge-1 will demonstrate the applicability of the cryptocurrency beyond orbit and lay the foundation for interplanetary trade. On April 1st,, Musk had already let it be known on Twitter that SpaceX was going to send Dogecoin to the moon.

Dogecoin Course Recovers After A Break-In

The Dogecoin, which lost more than 30 % of its value in the night from Saturday to Sunday, recovered on Sunday - it is unclear whether it was due to the SpaceX mission or subsequent purchases after the meanwhile sell-out. On Sunday evening, the Dogecoin price hovered just below the $ 0.60 mark. The market was just under $ 75 billion. This makes Dogecoin worth about as much as SpaceX.

The contents of this article are for informational purposes only and are not investment advice.

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