Tokens related to DOGE-1 satellite surge ahead of SpaceX launch | CoinDesk JAPAN

Two tokens associated with space logistics company Geometric Energy are rising ahead of the Dogecoin (DOGE)-themed satellite DOGE-1’s mission to enter lunar orbit.

GEC, the token issued by the company, has more than quadrupled in the past week. XI, another token said to be used to pay for ads displayed on satellites, rose 36%. According to on-chain data, the combined market capitalization of these tokens is over $30 million (approximately 4.5 billion yen, equivalent to 1 dollar = 150 yen), and there are more than 6,000 individual holders.

The satellite is scheduled to be launched on a SpaceX rocket from the Kennedy Space Center in the United States on January 12th.

Geometric Energy announced its DOGE-1 satellite in May 2021 as the payload for SpaceX’s Falcon 9 rocket launch, originally scheduled for 2022. All costs for this mission are covered by Dogecoin (DOGE). Dogecoin is a dog-themed meme coin backed by SpaceX founder Elon Musk.

SpaceX has received the necessary regulatory approvals for launch and is finally one step closer to making DOGE-1 a reality, said Geometric Energy founder Samuel Reid.

Coming next year as launched by SpaceX…

The DOGE-1 legend will be fulfilled by Geometric Energy Corporation (GEC)!@GeometricEnergy x @SpaceX $GEC #GEC #GeometricEnergyCorporation $XI pic.twitter.com/95tpg0rRWX

— SΔMUΞL RΞIÐ (e/acc) (@SamuelReidGEC) December 5, 2023

DOGE-1 is one of two Dogecoin-related missions scheduled for the coming months.

In early December, Dogecoin’s developers said that a physical DOGE could reach the moon in a space payload mission planned by the Pittsburgh-based company Astrobotic. The mission is scheduled for Dec. 23 and will carry 21 payloads from governments, businesses, universities, and NASA’s Commercial Lunar Payload Services (CLPS) initiative.

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: Dogecoin
｜Original text: Tokens Tied to Dogecoin-Funded DOGE-1 Satellite Jump Ahead of SpaceX Launch