The space sector has witnessed a surge in interest surrounding the “meme coin” Dogecoin (DOGE), thanks to the upcoming launch of DOGE-1, a Dogecoin-themed satellite set to orbit the moon. This mission, scheduled for January 12th aboard a SpaceX Falcon 9 rocket, has triggered a significant jump in the value of two tokens associated with the project: GEC and XI.
GEC, the token issued by Geometric Energy Corporation (GEC), the company behind DOGE-1, has seen a staggering four-fold increase in value over the past week. Meanwhile, XI, touted as the “space advertising token” for displaying ads on the satellite, has witnessed a 36% rise. Together, these tokens boast a market capitalization exceeding $30 million and a community of over 6,000 individual holders.
History of Dogecoin Mission
The DOGE-1 mission, first announced in May 2021, is a testament to the influence of Dogecoin and the broader meme coin phenomenon. The satellite’s payload was entirely funded through DOGE, fueled by the vocal support of SpaceX founder Elon Musk, a prominent advocate for the cryptocurrency.
With the recent regulatory approvals granted to SpaceX, DOGE-1 is finally poised for its historic launch from the Kennedy Space Center in Florida. GEC founder Samuel Reid expressed his excitement, stating, “This is a monumental moment for everyone involved in the DOGE-1 mission.”
DOGE-1 is not the only Dogecoin-related space mission on the horizon. Another mission is also planned for the coming months, further solidifying the meme coin’s presence in the burgeoning space industry.
This confluence of factors – the upcoming launch, the backing of influential figures like Elon Musk, and the broader interest in meme coins – has created a perfect storm for the GEC and XI tokens, propelling them to new heights. As the excitement surrounding DOGE-1’s lunar journey continues to build, it is likely that these tokens will experience further growth in the lead-up to the launch and beyond.