THELOGICALINDIAN - The Tesla and SpaceX CEO Elon Musk said he affairs to barrage the Doge1 accessory in Q1 2022 This activity will be adjourned absolutely application Dogecoin authoritative it the aboriginal cryptocurrency and meme in amplitude in Musks words
This comes afterward the abrogating bazaar acknowledgment to Musk’s SNL actualization during the weekend, in which he mentioned Dogecoin on several occasions. Add to that short-sellers advancing out of the woodwork, and the actual angle for DOGE looks uncertain.
SpaceX ablution accessory Doge-1 to the moon abutting year
– Mission paid for in Doge
– 1st crypto in space
– 1st meme in spaceTo the mooooonnn!!https://t.co/xXfjGZVeUW
— Elon Musk (@elonmusk) May 9, 2021
Musk Is Not Done With Dogecoin
In the countdown to aftermost weekend’s SNL show, Musk was accepted to acknowledgment Dogecoin, which he did during his aperture monologue, and afresh during a Q&A anecdotic it as a “hustle.” But markets reacted by affairs off, tanking the amount by as abundant as 30% at one point.
DOGE has back acquaint a accretion of sorts. But it’s still some 20% off the $0.74 bounded aerial activity into the weekend.
Nonetheless, that hasn’t abject Musk’s activity for Dogecoin. Back in April, he mentioned that SpaceX would put a “literal Dogecoin on the accurate moon.” Late Sunday evening, he common these affairs in a tweet, accompanying his bulletin with the “official” Dogecoin song.
The SpaceX Doge-1 moon mission is in accord with Geometric Energy Corporation. It will see a 40kg accessory launch, as a rideshare, on the Falcon 9 lunar mission aboriginal abutting year. The close said it intends to adviser lunar spatial intelligence application cameras and sensors onboard the satellite.
Geometric Energy’s CEO Samuel Reid said Dogecoin has “solidified” itself as the go-to bill for amplitude travel. Adding, its qualities of speed, reliability, and aegis accomplish it adult abundant for costs bartering moon projects.
“Having clearly transacted with DOGE for a accord of this magnitude, Geometric Energy Corporation and SpaceX accept caked DOGE as a assemblage of annual for lunar business in the amplitude sector.”
DCG Short Selling DOGE
Dogecoin’s amazing achievement this year has breach the cryptocurrency community. While the pro-DOGE affectionate maintains that it’s the people’s cryptocurrency, the skeptics point to a lack of fundamentals and development.
The closing accumulation warns that DOGE’s position is unsustainable and may alike aftereffect in a crypto clampdown by the authorities should a cogent selloff occur.
The Digital Currency Group (DCG) Founder, Barry Silbert, appear his close had opened a $1 actor abbreviate position, action that the DOGE amount will decline.
“Okay $DOGE peeps, it’s been fun. Welcome to crypto! But the time has appear for you to catechumen your DOGE to BTC“
Enabling this trade, Silbert acclimated a allowance badge alleged DOGEBEAR accessible on crypto derivatives barter FTX.
At this point, Dogecoin has accurate itself a cultural phenomenon, bringing much-needed acknowledgment to the cryptocurrency space. But, with DCG activity short, should the blow of us booty this as a assurance of what’s to come?
