Dogecoin Leaves Bitcoin, Ethereum In The Dust After This Space Company Literally Plans To Take It 'To The Moon'

Even as the leading cryptocurrencies such as Bitcoin BTC/USD and Ethereum ETH/USD dip, the popular meme-inspired digital currency Dogecoin (DOGE) has bucked the trend with a 5% increase. 

What Happened: This growth comes after an announcement said that Dogecoin is scheduled for a lunar trip. Astrobotic, a pioneering space robotics technology company, affirmed plans to transport a physical representation of DOGE to the moon aboard the Peregrine Lunar Lander.

The official statement from Dogecoin asserted, "Astrobotic plans to send a physical Dogecoin to the moon in the DHL Moonbox via ULA's (United Launch Alliance) Vulcan Centaur Rocket on 12/23/2023. Funded by our community in 2015, this mission embodies collective effort!"

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Why It Matters: The decision to send Dogecoin to the moon is a literal translation of the popular ‘To the Moon’ rallying cry within the cryptocurrency community.

To facilitate this celestial voyage, Astrobotic will utilize DHL’s MoonBox service—a time capsule initiative intended to safely transport and harbor items on the lunar surface for potentially hundreds of years. The MoonBox will carry a diverse array of objects, including personal mementos and a part of Mount Everest. As described by the launch packet, "Astrobotic accepted small personal mementos for inclusion on Peregrine Mission One. ‘Moon Capsules' containing payloads from around the world will be stored aboard Peregrine on the moon for centuries to come."

Santiment, an on-chain analytics firm, said Dogecoin has had a modest 5% surge on a mostly flat crypto market day. "It has been aided by $665M in on-chain transaction volume, its highest level in 3 months. There is also a notable amount of DOGE longs opening as traders bet on prices rising."

Price Action: At the time of writing, DOGE was trading at $0.081 up 5.33% in the last 24 hours, according to Benzinga Pro.

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