Elon Musk Skyrocketing DOGE-1 Moon Mission in Early 2022

Published 24 Nov 2021 by Radhika Aggarwal

Table of Content

  1. Elon Musk views about Dogecoin.
  2. Some Funny Tweets
  3. Journey of Dogecoin

SpaceX, the company founded by Elon Musk in 2002 to reduce space transportation costs to enable the colonization of Mars. In the first quarter of 2022, SpaceX will launch the “DOGE-1 Mission to the Moon,” with the company accepting the meme-inspired cryptocurrency as full payment for the lunar payload.

The Tom Founder of DogeLabs, Bustamante commented, “We are very excited to be working with Geometric Energy on their DOGE-1 project. Geometric’s depth of expertise and experience in space also makes them a great partner for potential future collaborations in both blockchain and space projects.”

Geometric Energy Corporation announced the dogecoin-funded mission on Sunday, which SpaceX’s communications team confirmed in an email to reporters. The mission’s financial value was not disclosed.

Smart exchange ecosystem Unizen and decentralized finance incubator ZenX announced Wednesday that they are in the process of building and launching DOGE-1, a 40-kilogram — roughly 88 pounds — CubeSat that will provide a new use case for cryptocurrencies. The CubeSat will travel to a “stable lunar orbit” to obtain lunar-spatial intelligence from sensors and cameras that will be sent back to GEC for analysis.

SpaceX had partnered with two blockchain companies, Unizen and ZenX, to bring the project to fruition. The CubeSat, which weighs 40 kilograms, will be launched into orbit as a new use case for the crypto space. The CubeSat will collect information through various methods, including sensors, cameras, and mirrors, and will relay this information back to Earth.

The DOGE-1 CubeSat is set to launch before NASA’s CAPSTONE, which was supposed to be the first CubeSat to orbit the moon. However, NASA’s launch has been delayed numerous times, putting the DOGE-1 ahead of CAPSTONE.

For SpaceX, the announcement also comes when the company sets a new record for its Falcon 9 series of rockets. After launching another batch of Starlink satellites into orbit, SpaceX landed the Falcon 9 rocket’s booster for the 10th time — a benchmark Musk has previously described as key in the company’s progress of reusing its rockets. Musk tweeted that, “ SpaceX is going to put a literal Dogecoin on the literal moon.”

Dogecoin (DOGE) rose to prominence earlier this year thanks in part to SpaceX founder Elon Musk, who touted the meme coins virtues and even claimed to work with its developers to improve its efficiency. The Musk-inspired surge may have added billions to DOGE’s market capitalization when more mainstream users were getting into cryptocurrency.

This satellite launch which musk claimed to be the first crypto (DogeCoin) to the moon which basically is an elaborated publicity stunt to woo the crypto heads & obviously create more awareness and buzz for the crypto community which is a win for musk and the crypto community. Geometric Energy’s Chief Executive Officer Samuel Reid said,” Having officially transacted with DOGE for a deal of this magnitude, Geometric Energy Corporation and SpaceX have solidified DOGE as a unit of account for lunar business in the space sector”.

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Elon Musk views about Dogecoin.

Cryptocurrencies are said to be the future of money and Musk did hint of taking Doge to the moon on 1st April, but it was April Fool’s Day and Dogecoin is a meme currency, so who would’ve thought?

Elon Musk has been the prodigious supporter of Dogecoin due to which this meme coin has become popular. There was the reason behind supporting the first mem coin. The reason was that a lot of people at his car making company Tesla and space satellite company SpaceX own Dogecoin.

DOGE has proven to be a fast, reliable, and cryptographically secure digital currency that operates when traditional banks cannot and are sophisticated enough to finance a commercial Moon mission in full. It has been chosen as the unit of account for all lunar business between SpaceX and Geometric Energy Corporation and sets precedent for future missions to the Moon and Mars.

On Father’s Day (20th June, Sunday) the crypto-world started wishing Elon Musk, for being the ‘Dogefather.’

Some Funny Tweets

Dogecoin started Buzzing with Elon Musk’s tweet about the Coin

It’s no secret that Elon Musk, Co-founder and CEO of Tesla, has been a loyal supporter of cryptocurrencies. His company had bought about $1.5 billion worth of Bitcoin in February. You can buy a Tesla using Bitcoin now, making it the first automaker to do so. So, it’s no surprise that when Elon first tweeted about Dogecoin, the coin started getting traction:

A Lot of People took Notice of this Meme-based Cryptocurrency and gave in their Own Heeds.

A lot of other high-profile people take notice of this meme-based cryptocurrency and boosted its hype by tweeting images in support of the crypto coin. American rapper Snoop Dogg joined Elon Musk with a tweet name ‘Snoop Doge’ mentioning him.

DOGE Skyrocketed in April after a series of Cryptic Tweets.

DOGE had a pretty stable ride in March and was hovering around $0.050 per coin. And then last week, Elon tweeted another photo regarding DOGE.

Journey of Dogecoin

Dogecoin was started as a joke in December 2013 by two engineers Billy Marcus and Jackson Palmer to make fun of cryptocurrency. The name Dogecoin was derived from the meme “Doge” featuring Shiba Inu, a Japanese dog, along with text that shows the imaginary thoughts of the dogs.

It instantly exploded among Redditors and Dogecoin became the second most-tipped currency just a week after launch. It also amassed a million visitors on its website.

In the year 2014, the trading volume of Dogecoin briefly went over that of Bitcoin. But of course, market caps were poles apart.

In 2018, Dogecoin saw a peak of $0.017, hitting a market cap of $ 2 Billion! Then the Dogefather, Elon Musk started tweeting about Dogecoin, sending its price higher and faster than any rocket company SpaceX has launched. From memes to polls, anything Musk said, investors, flocked to buy the coin in the year 2020.

Lastly, in 2021 Musk’s show-stopping announcement of Doge-1 to the moon! What started as an idiotic joke has become the loudest buzz of the crypto market in recent times.

What started as a goofy joke has become the loudest buzz of the crypto market in recent times. A Doge cult, as they call it, has truly been formed with Elon Musk being the most eminent supporter. But how long will it sustain on these temporary nudges?

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