Rocket Carrying Physical Dogecoin To The Moon Takes Off, But Why Is Price Struggling?
2024年1月8日 - 9:00PM
NEWSBTC
The highly anticipated space launch that is carrying a physical
Dogecoin to the moon has finally happened, but the DOGE price has
remained stagnant. The Vulcan Centaur rocket took off earlier today
with its impressive cargo with hundreds of thousands of
participants dropping in. Vulcan Launch Goes Off Without A Hitch
The Vulcan Centaur rocket launch carried out by the United Launch
Alliance took off in the early hours of Monday. The rocket which
carried the Peregrine Lunar Lander which is part of the NASA
Commercial Luna Payload Services (CLPS) Initiative also carried
other cargo, including a gold-plated DOGE coin. Related Reading:
Ethereum Giga Whales On A Historic Buying Spree – Here’s How Much
ETH They’ve Bought This launch has been anticipated given the fact
that it has been in the works for a while. However, it has not had
the desired effect on the price of the meme coin which continues to
struggle in the wake of the launch. Dogecoin has declined by more
than 3% during the last day and is struggling to hold support above
$0.075. Meanwhile, the anticipation around this event has since
dissipated since it has turned out to be a ‘sell the news’ event.
All eyes are now on the DOGE-1 space mission which is the first
space mission to be funded entirely in cryptocurrency. However, if
the Vulcan mission is anything to go by, then the DOGE-1 space
mission could end up being a non-event as well, especially as
investors’ interest in the coin begins to decline. DOGE price at
$0.078 | Source: DOGEUSD on Tradingview.com Can Dogecoin Recover
From Here? Despite the lack of interest that has plagued Dogecoin
over the last few days, there is seemingly a light at the end of
the tunnel for the meme coin. Its trading volume has begun to
recover over the last day, registering an over 60% increase during
this time. This could suggest a return of interest in the meme coin
especially as lower prices are giving investors an opportunity to
get back into the market. From here, the DOGE price is following
the general crypto market movement and a recovery in the price of
Bitcoin could trigger a ripple effect that ends up causing a surge
in the DOGE price. Related Reading: Bitcoin Spot ETF: VanEck’s Head
Of Research Says BlackRock Has $2 Billion In Investments Lined Up
Interestingly, the Crypto Fear & Greed Index still remains
firmly in the greed territory, which suggests that investors are
not discouraged from investing in cryptocurrencies. Most likely,
investors are waiting for the SEC’s decision on the Bitcoin Spot
ETFs on Wednesday to determine the next course of action. At the
time of writing, the DOGE price is trailing at $0.078 with an over
13% loss in the last week. Featured image from ABC, chart from
Tradingview.com
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