SpaceX Accepts Dogecoin as Payment for Lunar Satellite Mission

Elon Musk’s SpaceX will launch the “DOGE-1 Mission to the Moon” in the first quarter of 2022, with the company accepting Dogecoin meme cryptocurrency as payment.

May 10, 2021, | AtoZ Markets Elon Musk’s 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.

Geometric Energy Corp. (GEC) 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.

DOGE-1 will fly a 40kg cube-shaped satellite as a payload on a Falcon 9 rocket, and Geometric Energy Corporation said its payload“ will receive lunar-spatial intelligence from sensors and cameras on board with built-in communications and computing. systems," the company said in a press release.

At the same time, the financing of the new mission will be carried out in the Dogecoin (DOGE) cryptocurrency. SpaceX's vice president of commercial sales, Tom Ochinero, said the collaboration "will demonstrate the use of cryptocurrency outside of Earth orbit and lay the foundation for interplanetary commerce."
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Elon Musk, who recently received the nickname "dogefather" for his love of the crypto-meme, also confirmed the cooperation information.

The launch of the new satellite is scheduled for the first quarter of 2022. Earlier it also became known that WISeKey will launch the first part of the ecosystem of non-fungible tokens (NFT) on board SpaceX Falcon 9.

Dogecoin Holders Rejoice

The news of cooperation with one of the largest corporations in the world played into the hands (or paws - author) of the cryptocurrency itself. Immediately following the announcement of the joint mission, the Dogecoin price climbed to $0.59, partially recovering from a 30% collapse to $0.43 on Sunday, May 9.

At the time of writing, however, DOGE is trading at $0.53. The coin ranks fourth in the cryptocurrency market with a capitalization of $70 billion.

Over the year, the asset price has increased by more than 16,000%. Between May 3 and May 5, global trading volumes for Dogecoin tripled to over $42 billion, leading to a disruption in one of the trading platforms. As the founder and CEO of Indian kriptovalyutnoy Exchange WazirX Nisha Shetty explained, this has led to failures in the platform and eventually collapses it. The system simply interpreted the surge in trade volumes as a cyberattack.

As has been noted more than once, the dynamics of Dogecoin is primarily due to speculative factors. So, the coin-meme traditionally reacts violently to any signals given on the Internet by such influencers as Elon  Musk  and Mark Cuban.

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