Last year, Elon Musk announced the first-ever cryptocurrency-funded Moon mission, DOGE-1. This 40 kg or 88 pounds CubeSat was to be launched by SpaceX through a launch agreement with FalconX. Unlike the 1,600 CubeSats already launched, DOGE-1 will go up to 250,000 miles from the Earth to enter a stable lunar orbit. The sensors and cameras on the CubeSat will be used to obtain lunar-spatial intelligence information. It will be the first in the history of global spaceflight to reach the moon. As per Tom Ocihnero, Vice President of Commercial Sales, SpaceX, DOGE-1 demonstrates the use of cryptocurrency beyond the orbit of the Earth and will set a new record in interplanetary commerce.
Earlier slated for a launch in the first quarter of 2022, DOGE-1 will be launched on 14th January 2023 from the Kennedy Space Center, Florida, US.
Elon tweeting twitter 2.0 plans but leaving payments blank.
5 Reasons Why Elon loves Dogecoin
- Abundant Supply: Since there are no mining limits, this cryptocurrency can be mined and traded by investors with unlimited opportunities. Investors can look at it as a short-term or a long-term investment vehicle.
- Low Price: One of the biggest reasons behind the low price of Dogecoin is inflation. Compared to the likes of Bitcoin and other major crypto coins that are limited in supply, DOGE is unlimited. Every minute almost 10,000 new coins are added to the supply by miners, thus increasing the coins in circulation. Since the supply is so high, it automatically affects the price, pushing it down.
- The Dogecoin Community is growing fast: Many believe in Doge, and this belief is only growing. More the people trust the coin, the more are chances of it being used as a medium of exchange. The nature of DOGE attracted many crypto enthusiasts from the early days, who started using the coins on Reddit to tip strangers for their comments and reviews. It was done during the Winter Olympics of 2014 by sending the bobsleigh team of Jamaica to Sochi. As of today, DOGE has very active social media users who share and promote the meme coin to increase its reach. For example, recently, a user called Doge Designer started a petition on change.org to Twitter, Inc. The petition mentions that DOGE is the common man’s crypto; it is the best currency for tips, has the cheapest transaction fee compared to all other leading crypto coins, and is inflationary. In the end, the user signs the petition saying, ‘@Twitter, can we have $DOGE please????’ At the time of writing this article, the petition has already received about 9,537 signatures and needs another 63 to reach the 10,000 mark.
- It is compatible with decentralized exchanges: One of the biggest pros of DOGE is that it can be easily traded at decentralized exchanges like it works on the Ethereum platform and is compatible with many emerging decentralized finance platforms and networks. Not just this, DOGE is listed with many stock and crypto exchanges, some of the best ones in the world. The listing of Dogecoin by eToro, probably the biggest broker, has helped Dogecoin get tremendous reviews, increasing its demand amongst traders.
- Unique features of DOGE: Dogecoin is linked to Litecoin. It has its own mining system, and the coins inflation status are all attributes considered unique by investors.
This is by no means Financial Advice and it's important to understand the risk. A lot of this is speculation but the reward will outweigh the risk if these things happen. No other coin has the used case that Doge has. The calm before the storm.