CoinDesk Analysis Team
CoinDesk
Two tokens tied to space logistics and energy company Geometric Energy Corporation are jumping ahead of its mission to put DOGE-1, a Dogecoin-themed satellite, into orbit around the moon.
The launch is scheduled for Jan. 12 aboard a SpaceX rocket from the Kennedy Space Center in the U.S.
GEC, a token issued by the company, has more than quadrupled in the past week. Another token, XI, which is said to be used to pay for ads displayed on the satellite, has climbed 36%. Together they have a market capitalization of just over $30 million and more than 6,000 individual holders, on-chain data shows.
Geometric Energy announced the DOGE-1 satellite in May 2021 as the payload of a SpaceX Falcon 9 rocket originally scheduled for 2022. The mission has been paid for entirely in Dogecoin (DOGE) – a dog-themed meme coin that enjoys SpaceX founder Elon Musk’s vocal backing.
SpaceX has since received the requisite regulatory approvals to clear the launch, finally bringing DOGE-1 a step closer to reality, according to Geometric Energy founder Samuel Reid.
DOGE-1 is one of the two dogecoin-related missions planned in the coming months.
Earlier this month, Dogecoin developers said a physical dogecoin token could reach the moon in a space payload mission planned by Pittsburg-based firm Astrobotic. The mission is planned for Dec. 23 and carries 21 payloads from governments, companies, universities, and NASA’s Commercial Lunar Payload Services (CLPS) initiative.
All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by CoinDesk constitutes an investment recommendation, nor should any data or Content published by CoinDesk be relied upon for any investment activities. CoinDesk strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.
Recommended Content
Editors’ Picks
VanEck sees Bitcoin reaching $61 trillion market cap, Marathon buys $100 million BTC
Bitcoin declined by 1% on Thursday following asset manager VanEck's forecast that the top digital asset will reach a $61 trillion market capitalization by 2050.
Ethereum Classic price sets for a rally following retest of key support
ETC edges higher by 2.3% and trades around $22.60 at the time of writing on Friday after testing a key support area the day before. On-chain data showing increased account growth suggests a bullish move ahead. Ethereum Classic price faced rejection by the daily resistance level of $25.13 earlier this week.
Celebrity meme coins lose their shine
Celebrity meme coins report by Jupiter Slorg on Thursday shows that these tokens have been in deep waters since early July after experiencing heavy growth in June. In a recent analysis, Jupiter Slorg revealed that celebrity meme coins are down by an average of 94% from their all-time highs.
Ripple gains 5%, Mark Cuban says Kamala Harris’ nomination could affect SEC lawsuit
Ripple (XRP) made a comeback above key psychological resistance early on Wednesday. Crypto traders are optimistic after the Ethereum Exchange Traded Fund (ETF) launch. Entrepreneur and investor Mark Cuban recently shared his comments on how Kamala Harris’ nomination to the Presidential elections could influence crypto regulation.
Bitcoin: Will BTC manage to recover from recent market turmoil?
Bitcoin recovers to $67,000 on Friday after finding support around $63,500 a day before. Still, BTC losses over 1.50% on the week as Mt. Gox persists in transferring Bitcoin to exchanges.