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.