Dogecoin (DOGE), the popular meme cryptocurrency, has experienced a significant surge in price and network activity recently, attributed to speculation surrounding a potential lunar mission. The price of DOGE has spiked over 10% in recent days, driven by anticipation that the Astrobotic lunar mission will include “Physical Dogecoins” to the moon.
Astrobotic’s Lunar Mission and Dogecoin’s Speculative Rise
Astrobotic, an American space technology company, has been the subject of speculation regarding its upcoming Peregrine Mission One (PM1) lunar mission. The Doge community, which has a strong affinity for the meme coin, has speculated that the PM1 mission will carry DOGE physically to the moon. This speculation has been fueled by Astrobotic’s past funding from the Doge community.
On November 16, the official Dogecoin Twitter account posted a tweet suggesting that Astrobotic would take “Physical Dogecoins” to space. While Astrobotic has yet to officially confirm this, the tweet has ignited excitement among DOGE supporters.
🚀Dogecoin On The Moon Update🌕
— Dogecoin (@dogecoin) November 16, 2023
Exciting news for the Dogecoin community!🌑
Astrobotic plans to send a physical Dogecoin to the moon in the DHL Moonbox via ULA's Vulcan Centaur Rocket on 12/23/2023. Funded by our community in 2015, this mission embodies collective effort! pic.twitter.com/QESz4ikHln
Increased Transaction Volumes and On-Chain Activity
Riding on the speculation surrounding the lunar mission, DOGE investors have been actively trading the coin, resulting in a surge in transaction volumes. On Thursday, DOGE experienced a daily increase of over 5%, triggering gains for other meme coins as well.
Dogecoin’s impressive performance has been further bolstered by an impressive increase in on-chain transaction volume, which has reached $665 million. Additionally, IntoTheBlock’s on-chain data shows that DOGE has recorded over 2.25 billion transactions worth $100,000 or more in the past seven days.
Investors’ Eye on Astrobotic’s Lunar Mission
The prospect of Astrobotic carrying DOGE to the moon has captured the attention of investors and contributed to the current price surge. While there is no official confirmation from Astrobotic yet, the speculation has spurred interest in DOGE and driven increased trading activity.
Related: Dogecoin (DOGE) or Shiba Inu (SHIB): Which Puppy-Themed Coin is Best Positioned to Fetch Returns?
It remains to be seen whether Astrobotic will indeed include DOGE in its lunar mission. However, the speculation has undoubtedly had a significant impact on DOGE’s price and network activity, highlighting the power of community sentiment and speculation in the cryptocurrency market.
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