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Dogecoin (DOGE) literally to the moon or to crash?

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A Canadian manufacturing and logistics firm Geometric Energy Corporation has announced to launch a payload funded by Dogecoin (DOGE) onto SpaceX’s rocket to the moon. The payload is designed to gather intelligence on the moon with the help of sensors and cameras. The commercial satellite is set to travel to the moon in early 2022 and will be aboard SpaceX Falcon 9 launch vehicle.

The Vice President of Sales at SpaceX had commented the use of Dogecoin demonstrates the application on cryptocurrencies beyond earth as well. Will Dogecoin really be the first cryptocurrency to literally reach the moon? And what impact will this have on the Dogecoin on earth? Is a price surge to be expected?

However, it is unclear what role did Dogecoin play in the project. Neither SpaceX nor Geometric Energy has specified the use of funding from Dogecoin or what the funding amounted to. Speculations based on previous missions to the moon place the funding of Dogecoin at $225 million.

The CEO of SpaceX, Elon Musk, has been designated as the “Dogefather” because of his vocal support of the cryptocurrency. Elon Musk has sent the cryptocurrency surging upwards quite a few times. Musk has also been accused of market manipulation and even threatened with an SEC inquiry, But the CEO had remained undeterred.

However, there has been a recent shift in the tone of Elon Musk. It appears as though the billionaire CEO has grown tired of the cryptocurrency and has moved away. Recent statements of Musk show that he will no longer be supporting Dogecoin – which is very unpleasant news for the Doge community. Prior to his appearance on Saturday Night Live, Musk told reporters that no more pumping tweets for Dogecoin should be expected from him.

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