- Dogecoin (DOGE) price is up approximately 30 percent YTD to trade around $0.91 on Thursday.
- SpaceX has collaborated with Dogecoin previously in a mission dubbed DOGE-1 that was destined for lunar orbit.
The Dogecoin (DOGE) community is thrilled after Space Exploration Technologies Corp. alias SpaceX intends to launch the Starship TestFlight on Dogeday, 4/20. The earlier planned schedule for the Starship failed due to technical difficulties, thus pushing the launch date to today. According to tech billionaire and Tesla Chief Executive Officer Elon Musk, all Starship systems are currently green for today’s test flight launch.
With the Starship finally destined for Mars, the Dogecoin community is thrilled to be associated with the SpaceX program. Moreover, Dogecoin is the only digital asset to have been involved in a space mission dubbed DOGE-1 by SpaceX. Notably, DOGE-1 was set to fly a 40-kilogram cube satellite as a payload on a Falcon 9 rocket, with Geometric Energy Corporation saying its payload would obtain lunar-spatial intelligence from sensors and cameras onboard with integrated communications and computational systems.
As a result, the Dogecoin community is thrilled to have the Mars mission on track ahead of 2024/2025 awaited crypto bull market.
We are going to MARS! pic.twitter.com/urKhXQULBv
— DogeDesigner (@cb_doge) April 19, 2023
In a recent video clip, Musk is viewed walking around the Starship launch site stating that 4/20 is magical in his life.
The only reason why Starship launch can happen on 4/20 🤣
— DogeDesigner (@cb_doge) April 18, 2023
Dogecoin (DOGE) Market Outlook
Dogecoin (DOGE) price is up approximately 30 percent YTD to trade around $0.91 on Thursday. The meme lord is up approximately 5 percent today amidst the recent crypto correction that pushed Bitcoin price below $29k and Ethereum (ETH) below $2k. According to market data provided by Binance-backed Coinmarketcap, Dogecoin’s daily traded volume on centralized crypto exchanges spiked nearly 62 percent to about $1.5 billion on Thursday. Notably, Dogecoin’s decentralized exchanges (DEXs) volume stands at around $1.79 million today.
Dogecoin’s success has spawned hundreds of other meme coins including Shiba Inu, Floki, Babydoge, and BONK, among many others. With a market capitalization of approximately $12.7 billion, the meme coin is considered a medium-cap digital asset with the benefits of deep liquidity.
According to a famous crypto analyst on Twitter Kaleo, Dogecoin was destined to rally amidst other meme coins frenzy.
Dogecoin initiating a 4/20 squeeze while the rest of the market is bleeding would be beautiful to watch.
Still have high conviction in something like this playing out (even if it's not today), especially considering how meme coins like PEPE are currently moving pic.twitter.com/Zu36yhOun2
— K A L E O (@CryptoKaleo) April 20, 2023
A Dogecoin short squeeze could send the meme coin to this year’s new ATH following several attempts to break out. Notably, the 200 weekly moving average (MA) is acting as a crucial support for the bullish outlook in the near future. A renewed Dogecoin rally could push beyond the $0.15 zone that was rejected after Musk acquired Twitter late last year.
Meanwhile, Musk continues to fight a $258 billion lawsuit filed by some Dogecoin investors accusing the tech billionaire of pumping the meme coin and later abandoning it to crash.