Markets News Report
January 08, 2024

DOGE goes to Moon: Dogecoin Replica Aboards United Launch Alliance’s Vulcan Centaur Rocket

DOGE to the Moon: Dogecoin Replica Aboards United Launch Alliance's Vulcan Centaur Rocket

The United Launch Alliance successfully deployed its inaugural Vulcan Centaur rocket today, marking a landmark event for both the space and cryptocurrency industries. The primary payload of this mission is the Peregrine lunar lander, an integral component of NASA’s Commercial Lunar Payload Services plan. However, accompanying the lunar lander is a unique cargo—a replica of Dogecoin (DOGE).

The confirmation of this extraordinary payload came directly from the Dogecoin Foundation via a post on the social platform X. This successful lift-off of the Vulcan Centaur rocket marks a historic milestone, combining the realms of space exploration and cryptocurrency.

Notably, this lunar mission is not the only endeavor propelling Dogecoin (DOGE) “to the moon.”

US National Telecommunications and Information Administration (NTIA) had previously approved a SpaceX lunar mission named “DOGE-1,” funded by DOGE, which had sparked speculations of bringing the ‘DOGE-1’ Moon mission launch a step closer.

Initially announced by SpaceX founder Elon Musk in 2021, the DOGE-1 launch, scheduled as a rideshare collaboration between Intuitive Machines and the US space program NASA, was originally planned for 2022. However, it faced multiple postponements and is now set to take place in January 2024.

Elon Musk’s SpaceX is actively funding the DOGE-1 satellite, developed by the space technology firm Geometric Energy Corporation. Scheduled for launch aboard the SpaceX Falcon 9 rocket, the DOGE-1 satellite has garnered significant attention.

Many anticipate Elon Musk’s involvement to serve as a substantial catalyst for a potential surge in DOGE prices, considering the billionaire’s vocal support for the cryptocurrency on a global scale.

Likewise, Arthur Hayes founder of renowned cryptocurrency exchange BitMex expressed a parallel interest on social media platfom X in sending a Bitcoin (BTC) replica on the same lunar journey. Hayes coined the mission as “Bitcoin to the moon.”

Will Dogecoin’s Prices Follow the Lunar Trajectory?

The physical representation of Dogecoin (DOGE) on a lunar mission has stirred speculation about the potential impact on the coin’s market value. Despite fervent wishes for a surge in DOGE prices, the popular memecoin is currently grappling with a lack of momentum.

Presently, DOGE reflects a 3.2% decline in daily charts, a 13% drop in weekly charts, and a significant 25% decrease over the past month. Reportedly, the price performance since January 2023 reveals a modest 8.2% increase for Dogecoin (DOGE), contrasting sharply with Bitcoin‘s (BTC) remarkable surge of over 150% during the same period.

However, the number of cryptocurrency addresses holding Dogecoin (DOGE) surpassed 5 million for the first time in November 2023. The number of active addresses on the network more than doubled, reaching 168,000, marking its highest level since March 2022. Confirmed transactions on the Dogecoin blockchain had also surged to their peak since June 2023, showcasing a remarkable 1,000% increase in 10 days.

As Dogecoin and Bitcoin continue their interstellar journey, enthusiasts and investors alike await with bated breath to see if the lunar mission will indeed influence the trajectory of these cryptocurrencies in the earthly market. The escalating use of Dogecoin suggests a burgeoning adoption of the meme crypto, marked by users participating in significant transactions involving non-serious digital assets.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Victor is a Managing Tech Editor/Writer at Metaverse Post and covers artificial intelligence, crypto, data science, metaverse and cybersecurity within the enterprise realm. He boasts half a decade of media and AI experience working at well-known media outlets such as VentureBeat, DatatechVibe and Analytics India Magazine. Being a Media Mentor at prestigious universities including the Oxford and USC and with a Master's degree in data science and analytics, Victor is deeply committed to staying abreast of emerging trends. He offers readers the latest and most insightful narratives from the Tech and Web3 landscape.

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Victor Dey
Victor Dey

Victor is a Managing Tech Editor/Writer at Metaverse Post and covers artificial intelligence, crypto, data science, metaverse and cybersecurity within the enterprise realm. He boasts half a decade of media and AI experience working at well-known media outlets such as VentureBeat, DatatechVibe and Analytics India Magazine. Being a Media Mentor at prestigious universities including the Oxford and USC and with a Master's degree in data science and analytics, Victor is deeply committed to staying abreast of emerging trends. He offers readers the latest and most insightful narratives from the Tech and Web3 landscape.

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