A Canadian company is paying Elon Musk’s SpaceX in Dogecoin to send a satellite named DOGE-1 to the Moon.
I’ve decided not to believe this is actually true until the launch happens, but let’s go down this rabbit hole nonetheless.
As you’ve likely heard over the past few weeks, cryptocurrency Dogecoin has experienced a significant uptick in its value. Doge jumped up even further on Saturday night as Elon Musk hosted SNL and cracked jokes about the coin, but about mid-way through the episode, the price dipped significantly.
While many have been decrying the end of Dogecoin’s rapid rise in value and neverending meme cycle, it seems that might not be entirely the case.
SpaceX is going to put a literal Dogecoin on the literal moon
— Elon Musk (@elonmusk) April 1, 2021
Calgary-based Geometric Energy Corporation is paying SpaceX in Dogecoin to launch a satellite to the moon next year. This is a rather obvious play on ‘Dogecoin to the Moon,’ a phrase meme-investors have been applying to their chosen investments. For instance, a few months ago, the phrase, ‘GME (Gamestop) to the Moon’ was everywhere.
The DOGE-1 Sat is planned to launch on a Falcon 9 rocket in Q1 2022 and “will obtain lunar-spatial intelligence from sensors and cameras on-board with integrated communications and computational systems,” according to the company’s press release.
In the press release, the Geometric Energy Corporation also talks about how Dogecoin could be the future of interplanetary commerce since it’s not tied to a traditional banking system and instead uses Blockchain tech to authenticate transactions.
While this is all true, at the moment, Dogecoin is a pretty volatile currency with the price fluctuating dramatically based on events as simple as Elon cracking a bad joke on SNL, so I wouldn’t bank on it to become the future currency of the universe just yet.