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Dogecoin To The Moon – Is Doge Really Backed Up By Elon Musk?

In 2022, Dogecoin (DOGE) price is set to make history by becoming the first cryptocurrency to go to the moon, thanks to Elon Musk’s impending SpaceX expedition. According to media sources, Tesla has teamed with Unizen (a smart crypto exchange ecosystem) and Geometric Energy Consumption (GEC) to fund the Doge-1 satellite’s launch into orbit using Dogecoins.

Doge rebounded a little after the news on November 12 and gained 1.37%. Doge, on the other hand, has dropped in the last seven days. Today on Monday, Doge was trading at $0.263, down 1.29% in the previous 24 hours.

Doge

Dogecoin Price Chart: Source – coinmarketcap.com

“This expedition will show how Bitcoin may be used in Earth orbit and provide the groundwork for interplanetary trade.” On November 11, SpaceX vice-president of commercial sales Tom Ochinero remarked on unizen-io.medium.com, “We’re delighted to fly DOGE-1 to the Moon!”

According to the Smart exchange ecosystem, Unizen and decentralized finance incubator ZenX, organizations are in the midst of creating and deploying DOGE-1, a 40-kilogram CubeSat, which will give a new use case for cryptocurrencies.

A CubeSat is a small spacecraft that is used in space exploration. It will use its onboard communications module to transfer knowledge to GEC after collecting lunar spatial data.

“Dogecoin aficionados have been on cloud nine since rumors of Musk’s favorite coin’s participation in a lunar mission began to circulate. SpaceX said in May of this year that it will begin taking Dogecoin as payment for the much-anticipated moon mission slated for 2022. According to Sharat Chandra, a blockchain and emerging tech advocate, “the mission is scheduled to transport a 40-kilogram cube satellite as a payload on a Falcon 9 rocket to acquire lunar-spatial intelligence.”

“In terms of real-world utility, Dogecoin has secured its position. AMC Theatres in North America confirmed last month that Dogecoin may be used to make crypto payments. If practical use cases for real-world reasons are developed, meme currencies have the ability to form their own ecosystem “Chandra agrees.

Musk and dogecoin have had a unique connection over the course of the year, with the SpaceX and Tesla CEO’s tweets frequently serving to boost the coin’s value.

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