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19 June 2021
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Dogecoin, SpaceX and how the price has changed thanks to Elon Musk

Elon Musk announced a few days ago that SpaceX will launch the Doge-1 satellite, raising the price of Dogecoin. 

The Saturday Night Live episode conducted by Elon Musk was broadcast on Saturday 8 May, during which Tesla’s CEO spoke at length about this crypto.

Thanks to this news, the price of Dogecoin, about 12 hours before the broadcast, reached an all-time high, at $ 0.73. However, during the course of the broadcast a sketch was aired during which Elon Musk played the role of the “Dogefather”, or the fake finance expert Lloyd Ostertag, during which he defined Dogecoin a “hustle”. 

The price of Dogecoin

In reality, the price of Dogecoin had already started to fall a few minutes before the start of the broadcast, and when it ended it had lost almost 25% in about 3 hours. 

The next day the price dropped further to $ 0.43, but then climbed back to $ 0.49. 

However, after the new tweet from Elon Musk announcing the Doge-1 mission, it climbed first up to $ 0.52, and then even to $ 0.58. 

It now appears to have repositioned itself between $ 0.53 and $ 0.54, but it still looks very volatile. 

The Doge-1 mission announced by Musk is actually an autonomous initiative of the Canadian private company Geometric Energy Corporation (GEC), which has announced that it has purchased from SpaceX the service to prune a satellite consisting of a cube of 40 kg. 

The service was paid for in full with DOGE, and will launch in the first quarter of 2022. This mission was called Doge-1, and Geometric Energy CEO Samuel Reid said: 

“After officially paying DOGE for a deal of this magnitude, Geometric Energy Corporation and SpaceX have consolidated DOGE as the unit of account for the lunar space business.”  

Tom Ochinero’s vice president of sales added: 

“This mission will demonstrate the application of cryptocurrency beyond Earth’s orbit and set the stage for interplanetary trade. We are excited to launch DOGE-1 on the moon! “

Geometric Energy Corporation also states that DOGE has been chosen as the unit of account for all lunar deals with SpaceX, and that it sets a precedent for future missions to the Moon and Mars.

News Source

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