Elon Musk, the CEO and co-founder of SpaceX and Tesla, once again took to Twitter to prop up Dogecoin. Japanese Shiba Inu-themed digital token which was started as a joke, faced a setback after the billionaire’s “hustle” comment while hosting Saturday Night Live (SNL) on Saturday.
Dogecoin slipped 35% to reach $0.47 against the US dollar after Tesla CEO said the digital currency was a “hustle”, sending the price of the cryptocurrency tumbling.
However, the meme digital token rebounded on Tuesday after Musk, the self-proclaimed ‘Dogefather’ asked his 53.9 million followers on Twitter “Do you want Tesla to accept Doge?”.
Musk popped the question in the form of a poll on the microblogging platform following which the token spiked. The coin jumped from 46 cents to 54 cents after Musk’s tweet, according to Coinmarketcap.com. The survey garnered 750,000 responses within 30 minutes of being posted.
The fourth-largest cryptocurrency which has Musk, Mark Cuban and Snoop Dogg as proponents, has proven to be highly volatile. Its market capitalisation fell from $95 billion to $67 recently.
Musk, who earlier announced that Tesla will accept Bitcoin, earlier this week said that his commercial space exploration firm SpaceX will accept the meme-inspired cryptocurrency as payment.
In a tweet, Musk said SpaceX will launch the “DOGE-1 Mission to the Moon” early next year
Canada’s Geometric Energy Corporation (GEC) announced today the DOGE-1 Mission to the Moon—the first-ever commercial lunar payload in history paid entirely with DOGE—will launch aboard a SpaceX Falcon 9 rocket.
GEC’s DOGE-1 Mission to the Moon will involve Geometric Space Corporation (GSC) mission management collaborating with SpaceX to launch a 40kg cubesat as a rideshare on a Falcon 9 lunar payload mission in Q1 2022.
“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,” said Geometric Energy’s Chief Executive Officer Samuel Reid.
“This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce,” said SpaceX Vice President of Commercial Sales Tom Ochinero.
