While making an appearance on 'SNL' billionaire Elon Musk cast a shadow of doubt on Dogecoin but now his company is working hard to reverse the damage. Their solution to the SpaceX founder's damaging jokes is to send a launch a satellite into outer space and it's funded entirely by cryptocurrency.
A company called Geometric Energy Corporation announced Sunday that they'll be launching an 88-lb cube to the moon sometime in early 2022 ... with the help of none other than SpaceX, Elon's pride and joy for space exploration. SpaceX confirmed the news, BTW.
They say this is gonna be the first-ever commercial lunar payload that's paid for entirely with Doge ... meaning, SpaceX is accepting the crypto from Geometric -- which will presumably fundraise/buy Dogecoin for this mission ... one they're calling DOGE-1 Mission to the Moon.
SpaceX is going to put a literal Dogecoin on the literal moon
— Elon Musk (@elonmusk) April 1, 2021
The cube -- which will be equipped with high-tech cameras/sensors to help obtain "lunar-spatial intelligence" upon touchdown -- is flying passengers aboard a SpaceX Falcon 9 rocket.
Elon hasn't commented on the momentous moment just yet -- but one of his SpaceX execs did. Tom Ochinero, the Vice President of Commercial Sales, says ... "This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce." He adds, "We're excited to launch DOGE-1 to the Moon!"
This makes two things clear: it looks like Elon wasn't kidding when he said SpaceX would be putting an actual Dogecoin on the moon. Also, this is major damage control after Elon admitted to Michael Che that Dogecoin was a "hustle."
That comment caused the meme coin to crash and burn ... losing almost 37% of value in just a few moments.