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Recently, DOGE price has declined about 30% after the SpaceX founder’s appearance on Saturday Night Live (SNL) on the 8th of May.
Elon Musk’s aerospace manufacturer and space transportation services company SpaceX will launch “DOGE-1 mission to the moon” in the coming year, accepting DOGE as payment. Specifically, SpaceX will launch the mission, backed by DOGE, during the first quarter of 2022.
Geometric Energy Corporation published a press release regarding the matter on the 9th of May. Following the press release, SpaceX’s communications team confirmed the launch in an email sent to reporters.
SpaceX Doge-1 Mission to the Moon
As stated by Geometric Energy Corporation, the DOGE-1 Mission to the Moon represents the first-ever commercial lunar payload in history paid wholly with DOGE. In addition, the announcement revealed that the mission would launch on a SpaceX Falcon 9 rocket.
According to Geometric Energy Corporation, the mission will be executed by Geometric Space Corporation (GSC) mission management in partnership with SpaceX. Together, the companies will launch a 40kg cubesat as a rideshare on a Falcon 9 lunar payload mission.
Speaking more on the Payload, Geometric Energy Corporation said:
“The payload will obtain lunar-spatial intelligence from sensors and cameras on-board with integrated communications and computational systems.”
Furthermore, Geometric Energy’s CEO, Samuel Reid, spoke on SpaceX accepting DOGE. Reid notes that the company had officially transacted DOGE and is confident that the cryptocurrency will suffice for the lunar business in the space sector.
Also, Geometric Energy Corporation noted that DOGE proved to be a fast and reliable form of payment. The company also said that the coin proved itself when traditional banks could not finance the Moon mission. As a result, Doge was selected as the unit of account for all lunar businesses between SpaceX and Geometric Energy Corporation.
Tom Ochinero, the vice president of commercial sales at SpaceX, commented:
“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!”
DOGE has seen increased adoption and uses cases over the past year. The coin’s growth is often tied to Elon Musk, who has shown continuous interest in the cryptocurrency.
DOGE Price Declines as Predicted
Recently, DOGE declined about 30% after the SpaceX founder’s appearance on Saturday Night Live (SNL) on the 8th of May. The coin started falling about four minutes after the show began. The meme-coin dropped from $0.69 to $0.49.
At press time, DOGE is down 7.13% to $0.52. Additionally, the coin has lost more than 4% in its market cap to about $69.4 billion.
Before now, a crypto analyst and popular Twitter user, Lowstrife, highlighted that DOGE’s chart was similar to XRP’s in 2017, after which the Ripple’s native coin crashed. In a series of tweets, the analysts warned that DOGE may fall on the 8th of May after Musk’s appearance as “The Dogefather” on the SNL show.