Tokens tied to Dogecoin-funded DOGE-1 satellite jump ahead of SpaceX launch

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.