The imminent SpaceX IPO has drawn attention to DOGE, with eyes on how the Dogecoin price could react to the public listing of Elon Musk’s company. This is because of the affinity that the world’s richest man has for the foremost meme coin, which has brought about a connection between DOGE and developments around him.
Dogecoin Price Briefly Rises On SpaceX IPO Speculations
The Dogecoin price notably rose close to the psychological $0.10 level following reports that Elon Musk’s SpaceX could file for an IPO soon. According to a Reuters report, the space company is reportedly looking to raise up to $80 billion at a $1.75 trillion valuation. This could make the IPO the largest ever, topping Saudi Aramco’s 2019 IPO.
The Dogecoin price reacts to developments surrounding a potential SpaceX IPO, given Elon Musk’s relationship with DOGE. As such, the meme coin has been known to react to developments around the world’s richest man. It is also worth noting that DOGE has a direct connection to SpaceX through the long-planned DOGE-1 lunar mission, which aims to send a physical Dogecoin to the moon.
Elon Musk recently revived talks about the mission, stating that it could maybe happen next year. As such, the SpaceX IPO represents a huge positive for the Dogecoin price. DOGE also has a connection with SpaceX through the X social media platform, which is now part of SpaceX following its acquisition of xAI.
X is planning to roll out its payment services, with speculations that the social media platform could integrate DOGE payments. The Dogecoin price rose when Musk announced that X Money will launch to the public next month. A potential integration could serve as the catalyst to send the Doge price higher.
DOGE Has One Of The Best Setups Right Now
Ahead of the SpaceX IPO, crypto analyst Javon Marks said in an X post that the Dogecoin price has one of the best setups in the market right now. His accompanying chart showed that DOGE could soon bottom and rally to as high as $7 in the next bull run, marking a new all-time high (ATH) for the meme coin, surpassing its current ATH of $0.73.
This Dogecoin price rally to $7 is expected to happen between 2027 and 2028, which could mark the start of the next bull run. Marks made this prediction based on DOGE’s historical performance in past bull runs. The foremost meme coin notably saw gains of over 8,000% and 30,000% in the 2017 and 2021 bull runs, respectively.
At the time of writing, the Dogecoin price is trading at around $0.09270, up almost 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Pngtree, chart from Tradingview.com
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