DOGE and SpaceX
SpaceX Vice President of Commercial Sales, Tom Ochinero, described the agreement as the foundation for “interplanetary commerce“, although the contract’s financial value was not disclosed.
Has this significantly impacted DOGE’s market price? Not significantly, it fluctuates around a narrow range of $0.080–$0.085 with no indication of drastic changes, so Dogecoin is far from its all-time high of $0.74 reached in May 2021.
Musk's Attempt to Influence Price
In the cryptocurrency world, Elon Musk’s statements are scrutinized for their underlying meaning. A familiar pattern often emerges:
- New information emerges from Musk’s circle about the cryptocurrency
- A dynamic but brief surge in retail traffic
- Buying fizzles out, and the traffic reverses
A memorable example was the SpaceX CEO’s appearance on Saturday Night Live in May 2021. Musk called DOGE a “hustle” on air, and the coin lost over 33% in a single session. The impact was very noticeable then, so he later tried a similar trick with the opposite effect when he offered McDonald’s a Happy Meal live on TV, but the only effect was hype.
“SpaceX launching satellite Doge-1 to the moon next year – Mission paid for in Doge – 1st crypto in space, 1st meme in space.”
~ Elon Musk, X (formerly Twitter)
Acceptance & Usage of DOGE
A growing list of companies already accept DOGE payments:
Dogecoin’s problem is that acceptance doesn’t equal adoption like with stablecoins. Furthermore, its volatility (between approximately $0.08 and $0.31 over the past year) also prevents DOGE from being an everyday, convenient means of payment. It’s no surprise, however, that most individuals and businesses are reluctant to transact with a currency whose value can fluctuate by up to 30% during the day.
The Structural Problem No Tweet Can Fix
Dogecoin has two fundamental weaknesses that Musk-driven narratives consistently paper over:
- No supply cap – unlike Bitcoin, scarcity cannot be used as a valuation argument
- No native smart contracts – unlike Ethereum, there’s no developer ecosystem to underpin long-term demand
An experimental Layer 2 solution called Dogechain, built on Polygon, is attempting to add smart contract functionality – but it remains a rounding error compared to established platforms. The launch of DOGE ETFs in late 2025 and early 2026 also failed to reverse the downtrend.
DOGE Price Scenarios to Watch
| Scenario | Trigger | Target |
|---|---|---|
| 🟢Bullish | Holds $0.078 support + Musk’s actions | Push toward $0.10+ |
| 🟡Neutral | No major news; macro crypto conditions dominate | Sideways grind in $0.080–$0.085 |
| 🔴Bearish | Break below $0.078 | Sharp downside, like after SNL show |
In this case, the precedent of Saturday Night Live, which rapidly caused a one-third drop in value, must be kept in mind.
Dogecoin can experience ups and downs due to the activity of a single individual (Elon Musk) on social media, television programs, interviews, etc. Therefore, the risk must be carefully assessed, as the DOGE price is largely a leveraged bet on the SpaceX CEO’s X profile.
