Elon Musk mentioned SpaceX will “possibly” put Dogecoin(CRYPTO: DOGE) on the literal moon subsequent yr, sparking an intraday rally on Tuesday, which was reversed to see DOGE and Shiba Inu(CRYPTO: SHIB) dump round 5% on the day.
The Tesla Homeowners Silicon Valley X account dug up Musk’s 2021 publish that “SpaceX goes to place a literal Dogecoin on the literal moon” and requested “When?”
Musk responded “Perhaps subsequent yr,” then confirmed “Sure” when one other person mentioned “Doge on the moon is inevitable.”
The preliminary response light quick. DOGE briefly rallied over 4% in early Tuesday buying and selling, outperforming Bitcoin(CRYPTO: BTC) and Ethereum(CRYPTO: ETH).
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Nevertheless, the positive factors evaporated as broader crypto weak point dragged meme cash decrease.
The moon mission doubtless references the DOGE-1 satellite tv for pc mission deliberate by Canadian analysis agency Geometric Power Company, paid for completely with Dogecoin.
Initially slated to launch aboard a SpaceX Falcon 9 rocket by late 2023, the mission has confronted a number of delays. Geometric CEO Samuel Reid now targets a launch within the second half of 2026.
Dogecoin is testing important $0.10 help—a psychological make-or-break level. A breakdown under triggers panic promoting towards $0.08-$0.09.
The token trades under all key EMAs: 20 EMA at $0.11988, 50 EMA at $0.13044, 100 EMA at $0.14650, and 200 EMA at $0.16834.
This creates a “demise zone” of resistance layers that caps any rally makes an attempt.
Including stress, a descending trendline intersecting round $0.12-$0.13 continues capping rallies. The Parabolic SAR at $0.11916 confirms the downtrend stays lively.
For a real reversal, DOGE must reclaim $0.13-$0.14 and break above the descending trendline.
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