Elon Musk spiked the price of Dogecoin by 3% after tweeting that SpaceX will take the meme-themed cryptocurrency to the literal moon.

“SpaceX is going to put a literal Dogecoin on the literal moon.”

Traders often use the term “to the moon” when expecting prices of a certain stock or digital currency to surge.

Elon Musk is a self-appointed Dogecoin and Bitcoin advocate and frequently tweets witty statements about the Japanese dog Shibu Inu, the central appeal and logo of the meme-themed cryptocurrency. The last time tweeted about Dogecoin was in mid-March:

“I’m getting a Shiba Inu #restistanceisfutile.”

The tweet also comes a month after Elon tweeted a meme of a Shiba Inu standing on the moon in a spacesuit while holding a Dogecoin flag, followed by the words, “literally” and “on the actual moon.”

Elon Musk and Dogecoin

Elon’s ability to influence bitcoin and Dogecoin’s price actions by merely tweeting about it has been both acclaimed and criticized for boosting crypto adoption and hindering mainstream acceptance, respectively.

Dogecoin has a total circulating supply of 129 billion Doge and an undefined maximum supply, unlike Bitcoin. Analysts including Binance CEO Changpeng Zhao have warned investors against exposing themselves to assets with infinite amounts of supply.

However, Elon’s influence and Dogecoin’s price action in the past 6 months have inspired its developers to revamp its development. Speaking during an interview, Dogecoin’s lead developer Ross Nicoll said the team is working to make changes to Doge.

“People say it’s a joke coin but we’re very careful to take care of the code. When it took off there was a resurgence in attention and we want to keep the currency operational.” 

SpaceX was founded in 2002 with the goal of reducing the cost of space transportation by using relaunchable rockets to enable the colonization of Mars.  The company’s first commercial trip around the moon on its Starship rocket will take place in 2023.

Elon Musk previously said that he is highly confident that SpaceX will have reached orbit many times with Starship before 2023, and that it will be safe enough for human transport by 2023.

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SpaceX– Elon Musk’s aerospace company, just launched two NASA astronauts into space. SpaceX is a privately owned American aeronautic manufacturing and space exploration technologies corporation, founded sometime in 2002 with the primary intention of revolutionizing space technology and promoting the emigration to mars through reduced space transportation cost. SpaceX group, an enterprise spearheaded by one of the most innovative minds of our times, has introduced a new age of human spaceflight in the United States. The project codenamed ‘Crew Dragon Mission’ was the second attempt by the company to launch spacemen into the orbit, over the last two decades – as the first attempt from three days ago was canceled a few minutes before take-off due to stormy weather.

This most recent development is part of NASA’s Artemis program. It comes as a relish to NASA and SpaceX since the automated spacecraft manufacturer was sanctioned by NASA barely two weeks ago to develop a lunar optimized Starship that would transport its crew between the lunar orbit and the surface of the moon. The two astronauts involved in this record-breaking venture are; Bob Behnken and Doug Hurley – both of whom are NASA veteran space travelers.

NASA astronauts Doug and Bob lifted off circa 15:22 UTC on Saturday, 30 May 2020, from Kennedy Space Center on Merritt Island, Florida – which happens to be the same launch pad used to send the Apollo astronauts to the moon fifty years ago. Notably, the launch of the SpaceX aero flights – Falcon 9 rocket and Dragon crew capsule, from Florida’s Kennedy Space Center to the International Space Station (ISS) marks the first time in 9 years since a spacecraft has been launched from American soil and also the first time a private company has done it.

The NASA astronauts have successfully arrived at the International Space Station. In attendance to witness the event in Florida was President Donald Trump, Vice President Mike Pence, and the SLOTUS – Karen Pence of the United States of America.

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