SpaceX Dogecoin-Funded DOGE-1 Mission Set To Launch In Q1 2022

SpaceX Dogecoin-Funded DOGE-1 Mission Set To Launch In Q1 2022

Elon Musk’s Dogecoin-funded mission is now set to launch in the first quarter of 2022. The launch had been announced in May of this year when the billionaire had tweeted about it. The mission is fully paid for in Doge and will not only be the first crypto in space, but it will also be the first meme coin in space.

SpaceX launching satellite Doge-1 to the moon next year

– Mission paid for in Doge– 1st crypto in space– 1st meme in space

To the mooooonnn!!https://t.co/xXfjGZVeUW

— Elon Musk (@elonmusk) May 9, 2021

Related Reading | Elon Musk Plans To Become The World’s First Dogecoin Trillionaire

This had been announced at the height of the Dogecoin rally following Musk’s public support of the digital asset earlier in the year. The news of the mission had further propelled the value of the coin forward as Dogecoin was set to make history with this launch. Musk had announced that the mission, known as DOGE-1, would be launched in 2022 and it seems like the project is progressing on schedule.

DOGE-1 Is Ready To Go

According to a report released on Wednesday, the DOGE-1 mission is ready for launch in early 2022. SpaceX had partnered with two blockchain companies, Unizen and ZenX, to bring the project to fruition. The CubeSat which weighs 40 kilograms will be launched into orbit as a new use case for the crypto space. The CubeSat will collect information through various methods, including sensors, cameras, and mirrors, and will relay this information back to Earth.

DOGE price remains unmoved by DOGE-1 launch | Source: DOGEUSD on TradingView.com

Launching the CubeSat combines the technology behind SpaceX’s FalconX and blockchain technology. Upon launch, the miniature satellite will orbit the moon to obtain lunar-spatial intelligence.

The DOGE-1 CubeSat is set to launch before NASA’s CAPSTONE, which was supposed to be the first CubeSat to orbit the moon. However, NASA’s launch has been delayed numerous times, putting the DOGE-1 ahead of CAPSTONE. “This means that DOGE-1 could be the first cubist in history to reach the moon, marking a significant achievement for global spaceflight,” the companies said in the report.

Dogecoin Reaction To The News

The meme coin did not see much in the way of a reaction to the news of the launch. Dogecoin continued to trend around $0.26 with no significant movement from the asset upwards or downwards. Despite a good portion of the market rallying to new all-time highs, Dogecoin has not been able to move close to its record high.

Related Reading | Shiba Inu Beats Out Cardano, Dogecoin On Top 10 Watch-Listed Tokens

Previously, news like this would have caused the altcoin to rally, as it did when news of the miniature satellite had first broken in May. This time around, the news of the launch was not enough to move the value of Dogecoin.

This is in part due to the declining influence of Elon Musk over the meme coin, but also that the market has now moved on to other projects. Shiba Inu has now taken over as the meme coin of choice, leaving Dogecoin to suffer in its wake.

Featured image from Bitcoinist, chart from TradingView.com

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