Finally, the long-awaited space launch that would send a physical Dogecoin to the Moon came to fruition, but surprisingly, the price of DOGE remained stagnant. The takeoff of the Vulcan Centaur rocket, with its impressive payload, was watched by hundreds of thousands of enthusiasts. However, even with the excitement generated by the event, the meme coin’s value has struggled, falling more than 3% in the last 24 hours and struggling to maintain support above $0.075.
The Launch of Vulcan
In the early hours of Monday, the Vulcan Centaur rocket, operated by United Launch Alliance, successfully took off. In addition to carrying the Peregrine Lunar Lander as part of NASA’s Commercial Luna Payload Services (CLPS) Initiative, the rocket carried a unique payload: a gold-plated DOGE coin. The launch, widely anticipated, did not generate the expected impact on the price of the cryptocurrency.
Selling News and Future Expectations
Unfortunately, the event turned out to be a “news sale”, dispelling initial expectations. Now, all eyes are on the DOGE-1 space mission, the first to be financed entirely in cryptocurrency. However, in light of the Vulcan launch experience, there are fears that the DOGE-1 mission could also become a non-event as investor interest in the coin wanes.
Recovery Prospects
Despite the recent lack of interest, there are signs of a possible recovery for Dogecoin. Over the past few days, the meme coin’s trading volume has seen a notable increase, suggesting a return of investor interest. Lower prices may be attracting investors back into the market, and a rebound in Bitcoin’s price could trigger a ripple effect, boosting DOGE’s value.
The Impact of the SEC Decision
Interestingly, the Crypto Fear & Greed Index remains in greed territory, indicating that investors are not discouraged about cryptocurrencies. The SEC’s impending decision on Bitcoin Spot ETFs on Wednesday is eagerly awaited as it could shape the future course of cryptocurrencies.
As of this writing, the price of DOGE is at $0.078, reflecting a loss of over 13% over the last week. Although the space launch did not boost prices as expected, there are signs of recovery. The market eagerly awaits upcoming events to determine the fate of Dogecoin, as investors continue to pay attention to changes in the crypto landscape.
