Geometric Energy Corporation announced the dogecoin-funded mission earlier on Sunday, with the statement not disclosing the mission’s financial value. Elon Musk’s company would accept Dogecoin as payment for a payload on a lunar Falcon 9 mission scheduled for next year. Geometric Energy is a Canadian company that describes itself as intellectual property, manufacturing, and logistics firm originally founded on inventing renewable energy technologies. Dogecoin has witnessed a massive winning rally this year as it reached an all-time high of $0.73 last week. 

SpaceX launching satellite Doge-1 to the moon next year

– Mission paid for in Doge
– 1st crypto in space
– 1st meme in space

To the mooooonnn!!https://t.co/xXfjGZVeUW

— Elon Musk (@elonmusk) May 9, 2021

“SpaceX launching satellite Doge-1 to the moon next year.”

SpaceX founder Elon Musk tweeted, “SpaceX launching satellite Doge-1 to the moon next year – Mission paid for in doge – 1st crypto in space – 1st meme in space.” According to data on Coingeecko.com, Dogecoin has jumped more than 800% over the last month and is now the fourth-largest cryptocurrency, with a market capitalization of $73 billion. It hit a record high Thursday above $0.73. SpaceX Vice President of Commercial Sales Tom Ochinero said that this mission would demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce.

Dogecoin plunges after Elon Musk’s SNL appearance. 

Dogecoin lost more than a third of its price over the weekend after Elon Musk called it a “hustle” during his guest-host spot on the US Saturday Night Live (SNL) comedy sketch TV show. Dogecoin is trading at $0.54, a fall of more than 16% in the previous 24 hours. Several from the crypto community were expecting that Elon would mention Dogecoin on the famous sketch TV show, which would send the cryptocurrency into a frenzy. Elon Musk did mention Dogecoin on the TV show, but it only affected the price negatively.