DOGE Price Drops 11% After Elon Musk’s SpaceX Rocket Test Fails

The price of popular memecoin Dogecoin is down more than 9% at press time after a SpaceX test rocket exploded after launch.

According to CNBC’s latest report, Elon Musk’s parent company’s Starship rocket test launch was successful, but it exploded after four minutes of flight.

News of the incident sent DOGE shares down, currently trading at $0.083, down more than 11% from a 24-hour high of $0.093.

Musk immediately congratulated his team on the rocket launch, saying the company “learned a lot for the next test launch,” which is expected in a few months. However, his tweet did not explicitly mention the rocket explosion, nor did he post any photos.

In the past, Musk’s tweets have influenced the price of Dogecoin. Last week, the business tycoon responded to a meme photo posted by a DOGE graphic designer of a hard-hatted executive working in a mine, when DOGE temporarily jumped 5%.

In his message, the graphic designer offered to pay DOGE to anyone who could provide proof of rumors that Musk once owned an emerald mine.

Musk also weighed in, adding that he would also pay 1 million DOGE to anyone who could provide such proof, causing the memecoin to spike.


According to Dailyhodl

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