Dogecoin price could reclaim above $0.10000 as DOGE community prepares for Astrobotic Moon Mission

Dogecoin (DOGE) price is coiling up for its next move, with bullish fundamentals suggesting that support the case for the bulls rather than the bears, even as DOGE boasts nearly 10 years of existence. 

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Dogecoin on the moon update

After weeks of waiting, the “Dogecoin on the moon” calendar date is finally here, with Pittsburgh-based firm, Astrobotic planning to send a physical Dogecoin to the moon in the DHL Moonbox via ULA's Vulcan Centaur Rocket due in just above 24 hours.

Notably, around November 16, Dogecoin price rallied almost 20% as news of the trip to the moon hit the market.

Slated for December 23, the event was funded by the DOGE community in 2015, with the mission being an embodiment of collective effort.

Blockchain agency Crynet says, “Sending Dogecoin to the Moon is not just a whimsical goal. Rather, it poses as a brilliant marketing move, tying the meme-driven crypto craze to the tangible achievements of space technology, thereby creating a unique narrative.”

Another user @serge_golubev lauds it as a “creative blend of space exploration and modern culture,” reflecting “how space missions can capture public imagination and bring a playful element to the space economy.”

Bitcoin to board the ship as well

A physical Bitcoin token could also tag along in the trio to space, in an initiative planned by crypto exchange BitMEX. This is according to a May announcement, which also indicated that a copy of the Genesis Block would also be traveling. Notably, this is the first BTC block to be mined, commissioned by Bitcoin Magazine.

The last tryst of the largest dog-themed meme coin by market capitalization with the moon was a 2022 plan for a SpaceX mission. This was funded entirely by DOGE tokens, with Canadian firm Geometric Energy Corp commissioning the escapade, christening it “the first-ever commercial lunar payload in history.” Nevertheless, the mission was postponed to a later date in January 2024.

Dogecoin price outlooks as DOGE goes to the moon

Dogecoin price appears to be coiling up for a move north, hinted at by the Relative Strength Index (RSI) that continues to hold above 50 and the strong presence of the bulls in the DOGE market evidenced by the position of the Awesome Oscillator (AO) and the Moving Average Convergence Divergence (MACD) indicators in the positive territory.

Increased buying pressure could see Dogecoin price extend 5% north, flipping the $0.1000 psychological level into a support floor. In a highly bullish case, the gains could extrapolate for DOGE value to tag the $0.106600 barricade, or in highly ambitious cases, extend a neck high to the range high at $0.10730, levels last tested on December 11.

DOGE/USDT 1-day chart

Conversely, if selling momentum increases, Dogecoin price could pull south, first losing the immediate support at $0.08990. A daily candlestick close under this level would invalidate the bullish thesis.

In the dire case, the slump could extend for Dogecoin price to test the $0.08000 psychological level, 15% below current levels.