Dogecoin will be heading to space in 2022 following the announcement of Geometric Energy Corporation (GEC) for project DOGE-1 Mission to the Moon in partnership with Elon Musk’s space transportation company, SpaceX.
On May 9, the GEC manufacturing and logistics firm announced in a press release to PR Newswire that the project would be completely funded through Dogecoin payments. It would launch a 40kg satellite to the moon on a Falcon 9 SpaceX rocket.
A follow-up announcement was made by Musk through his Twitter account that said ‘SpaceX launching satellite Doge-1 to the moon next year – Mission paid for in Doge – 1st crypto in space – 1st meme in space.’
Moreover, both companies have chosen Dogecoin as their means of financial transaction for all lunar businesses between them.
‘Having officially transacted with doge for a deal of this magnitude, Geometric Energy Corporation and SpaceX have solidified doge as a unit of account for lunar business in the space sector,’ GEC Chief Executive Officer Samuel Reid said in a statement.
Additionally, SpaceX Vice President of Commercial Sales Tom Ochinero expressed his excitement for the project, saying, ‘This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce.’
According to both companies, this mission would set a precedent for their future missions on the moon and Mars. Moreover, they stated that the meme currency is a fast and reliable digital means of transaction, especially on a sophisticated mission to the moon that traditional financial institutions cannot finance.
April Fool’s joke announcement
Musk, a long-time supporter of Dogecoin, tweeted the SpaceX plans last month during April Fools’ Day.
‘SpaceX is going to put a literal Dogecoin on the literal moon,’ Musk said in his tweets, causing the digital coin to rise 32% its value.
However, this increase didn’t last long since Dogecoin’s value stumbled after Musk’s hosting appearance at the US sketch show Saturday Night Live. The self-proclaimed Dogefather referenced the meme currency and called it a ‘hustle’, causing the coin to drop a third of its value.
Despite this, Dogecoin is still at the 4th spot in the top cryptocurrency list according to Coin Market Cap. As of writing, the digital coin is worth US$0.5 with a market value of US$71 billion.
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