Dogecoin (DOGE) Sees Wild Price Action Following Elon Musk’s Starship Launch Incident
The launch of SpaceX’s Starship rocket, despite a successful takeoff, ended in an explosion just four minutes later, causing significant price fluctuations for Dogecoin (DOGE).
Dogecoin (DOGE) Reacts Sharply After Elon Musk’s Starship Launch Incident
On April 20, SpaceX’s most powerful rocket, Starship, successfully lifted off from the Starbase launch site in Texas. The spaceflight was scheduled to last 90 minutes and was broadcast live on SpaceX’s official channels.
However, just four minutes into the flight at an altitude of 38 km, the mission ended in dramatic fashion as the rocket flipped and exploded in mid-air.
As if the flight test was not exciting enough, Starship experienced a rapid unscheduled disassembly before stage separation
— SpaceX (@SpaceX) April 20, 2023
Despite the unfortunate outcome, SpaceX considers the test flight a success in its quest to return humans to the Moon and eventually to Mars. The incident was met with a mix of reactions, with many spectators showing amusement.
Following the mishap, SpaceX’s Twitter account confirmed the accident and stated that an investigation into the cause is underway.
The incident had a notable impact on DOGE, the meme coin closely associated with SpaceX founder Elon Musk. Immediately after the explosion, DOGE's price dropped by over 10%. Despite this, with the overall market undergoing a correction, DOGE has yet to recover and is currently trading around $0.084.
15m Chart of DOGE/USDT on Binance at 10:50 AM, April 21, 2023
Originally created in 2013 as a joke by a group of engineers using a Shiba Inu dog as its mascot, Dogecoin was intended to parody Bitcoin. However, no one anticipated that Tesla CEO and current Twitter owner Elon Musk would become the “DogeFather” of DOGE by endorsing and promoting the coin on social media. Since then, Dogecoin has garnered a substantial fanbase and become a notable phenomenon in the crypto market.
Recently, the Twitter CEO changed the social media platform’s logo from the familiar blue bird to the Dogecoin symbol but then reversed the change just three days later, causing a dramatic pump-and-dump of DOGE.
Additionally, the Dogecoin community has embraced April 20 as “International DOGE Day” or “DogeDay,” continuing the coin's original tradition and driving momentum for the cryptocurrency, which currently ranks 8th in the global market.
