SpaceX Announces Plan to Accept Dogecoin Payments for Space Missions
May 10, 2021
Just a few months after Elon Musk’s Tesla announced its move to start accepting Bitcoin payments, another of Musk’s companies, SpaceX, has announced that it will accept Dogecoin (DOGE) payments for its space missions.
This announcement comes just a day after Elon Musk hosted the ‘SNL’ and called Dogecoin a “hustle,” which triggered a +30% decline for the fourth-largest cryptocurrency.
Nonetheless, the new development is an exciting one for DOGE investors. The announcement for “the DOGE-1 Mission to the Moon” was published by the Geometric Energy Corporation (GEC) some hours ago.
The space mission involves launching a 40KG cube satellite of the Falcon 9 rocket containing “lunar-spatial intelligence and computational systems” into orbit. The space mission is scheduled for launch in Q1 2022, and SpaceX plans to begin accepting DOGE payments during the preparation period. However, the GEC has failed to provide a precise amount of what the mission would cost.
Speaking about the new synergy between cryptocurrency and space missions, Tom Ochinero, Vice President of Commercial Sales at SpaceX, noted that:
“This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce. We’re excited to launch DOGE-1 to the Moon!”
One of the effects of this new undertaking is that it would solidify Dogecoin’s footing in the crypto and financial industry.
Key DOGE Levels to Watch — May 10
Dogecoin had an immensely volatile weekend as it continues to gain popularity. Following a peak at the $0.7390 level on Saturday, the ‘meme coin’ suffered a 43% dip to the $0.41 region over the ensuing 24 hours due to some comments from Musk. That said, the fourth-largest cryptocurrency posted a healthy rebound to the $0.6 round figure and corrected slightly to the $0.55 region, where it trades currently.
We expect DOGE to regain bullish momentum and take on the $0.60 – $0.65 resistance area over the coming hours.
Meanwhile, our resistance levels are $0.6000, $0.6500, and $0.7000, and our support levels are $0.5300, $0.5000, and $0.4500.
Total Market Capitalization: $2.5 trillion
Dogecoin Market Capitalization: $69 billion
Dogecoin Dominance: 2.7%
Market Rank: #4
Note: cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.