Elon Musk once said that he would put an actual Dogecoin (DOGE) on the moon with one of his SpaceX missions. Musk is undoubtedly one of the biggest DOGE fans in the world, who has been very vocal about his support for the memecoin. Earlier this year in February, Musk revealed that SpaceX will most probably launch an actual Dogecoin to the moon in 2027. Let’s discuss if launching a Dogecoin to the moon will propel the memecoin to the $1 mark.
Will Elon Musk Launching A Dogecoin To The Moon Push The Memecoin To $1?
DOGE has seen a substantial dip over the last few months. DOGE climbed to $0.46 in December 2024, and has been on a downward trajectory ever since. According to CoinGecko’s Dogecoin data, DOGE’s price has fallen 2% in the last 24 hours, 4.8% in the last week, 10.9% in the 14-day charts, and 18% over the previous month. DOGE’s price has also fallen by more than 87% from all-time high of $0.7316. Dogecoin’s (DOGE) lackluster performance is likely due to investors taking risk-off approach, given the rise in macroeconomic uncertainties and geopolitical tensions. DOGE, being a memecoin, carries even more risk than some other crypto assets, such as Bitcoin (BTC), Ethereum (ETH), XRP, etc.
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However, if Elon Musk launches an actual Dogecoin (DOGE) to the moon, the move could lead to a massive surge in investor sentiment. Moreover, no other cryptocurrency could flex such a massive achievement. Musk aims to turn the crypto phrase “to the moon” into a reality for Dogecoin (DOGE). While the memecoin will most likely experience a massive rally if Musk lives up to his word, whether it actually hits $1 or not is unclear. Hitting $1 would be a massive milestone for DOGE, and also a new all-time high.
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