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SpaceX enables Dogecoin payment, ready to push coin to $1

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TL;DR Breakdown

  • SpaceX now enables Doge payment
  • How SNL foiled Doge $1 hopes

Elon Musk’s SpaceX has announced it will now accept Dogecoin payment and ready to push the meme coin to $1 in the first quarter of 2022.

The company noted it would accept Dogecoin payment as full payment for the lunar payload. They made the announcement today, Sundayhich SpaceX’s communications team confirmed in an email to CNBC reporters.

SpaceX vice president of commercial sales Tom Ochinero said in a statement that DOGE-1 “will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce.”

“We’re excited to launch DOGE-1 to the Moon!” Ichiro said.

Massive dump followed Elon Musk SNL before Dogecoin payment announcement

Ahead of spaceX announcing that the firm has enabled Dogecoin payment, price of meme coin, continued to fall after high hopes the coin would surge to $1 today, Sunday after Elon Musk’s appearance on Saturday Night Live.

However, after these high hopes, what followed for Doge was a massive dump seeing the price drop by over 20 percent in the past 12 hours.

Musk mentioned the coin firstly on the show in his opening monologue. The reference was a throwaway line from Musk’s mother, who joined him on stage and asked if her Mother’s Day gift would be Dogecoin; Musk replied that it would be.

Minutes after that line, $DOGE dumped upwards of 25 percent, falling as low as $.50 from $.66 highs at the show’s start. The coin has managed to recover a bit, trading at $.56 at the time of publication.

Again, Elon took part in the famous “Weekend Update” sketch, a high point in the news show.

The hosts asked What Dogecoin is, and Elon’s answers were unsatisfactory. Although he said that cryptocurrencies could be the “future of currency” and that they could “take over the world,” in the end, everyone agreed that Dogecoin was nothing else but “a hustle.”

After this, the meme coin was technically defeated, and the only way left for the coin was down.

During the entire hour-long program, Dogecoin plummeted, registering the largest red candle in its entire history. It crashed from a high of $0.7 to a low of $0.42. The hourly candle eventually closed at $0.54.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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