The Dogecoin funded mission to launch DOGE-1, a cube satellite to the Moon through SpaceX just bagged the National Telecommunications and Information Administration (NTIA) approval.
This approval marks a pivotal twist in the proposed push to get the top digital currency into space. To actualize the multi-year dream, the only license left to secure is that from the Federal Communications Commission (FCC) license and the NTIA nod paves the way for this.
Doge-1 Space Mission: an Ambition in Unison
Cryptocurrency is a daring innovation that has earned Bitcoin’s creator Satoshi Nakamoto a lot of accolades today. Dogecoin’s emergence in 2013 introduced a different paradigm to the crypto ecosystem, as it embodies a rare ideology that has deep roots in community power.
The launch of the DOGE-1 mission is one of the major showcases of the Dogecoin power. The DOGE-1 satellite is designed by Geometric Energy Corporation, a Space technology outfit that unveiled the plan in 2021. At the time, Dogecoin advocate and SpaceX Founder, Elon Musk also made the announcement, lending credence to its legitimacy.
DOGE-1’s mission in Space will see it broadcast images and ads back to earth after first displaying these in space through an attached screen. The ultimate launch of the DOGE-1 satellite will come in January 2024.
Impact on Dogecoin (DOGE) Price
As a mission funded entirely in DOGE, members of the Dogecoin community notably have a deep stake in the DOGE-1 mission. As such, the positive NTIA approval has boosted market sentiment, sending the price of DOGE up 5.58% to $0.08257.
The sentiment is showing in every aspect of Dogecoin’s metrics with market capitalization up 5.78% to $11,725,232,731 and trading volume shooting 74.9% to $767,537,229.
While the broader market sentiment plays a role in this Dogecoin uptrend, the expectation of more positive news bordering on the DOGE-1 mission can help sustain DOGE’s price action as the year wraps up.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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