Dogecoin set to become ‘currency of space?’ Musk has answer but not…

ambcrypto.com:

Dogecoin and Elon Musk have had a long relationship. It seems Dogecoin’s price is directly proportional to Musk’s bullish tweet about the meme coin. Not to forget that the billionaire’s tweets of late have been failing to produce a strong impact on Dogecoin.

Well, continuing his streak of manipulating Dogecoin’s price either voluntarily or involuntarily, Elon Musk triggered a sharp rise in the meme coin on 28 May. 

The ‘DOGEfather,’ in a tweet on 27 May, announced that in the future, SpaceX will be accepting Dogecoin as a means of payment for its merchandise.

— Elon Musk (@elonmusk) May 27, 2022

Initiated earlier this year, Tesla ran the offer for people to buy Tesla-related merchandise such as a whistle and even a quad bike designed for children, the cyberquad. 

Now, SpaceX is set to deploy similar features for its users where it could sell accessories and apparel worth anywhere between $15 to $150 in DOGE.

This would skyrocket [pun intended] Dogecoin’s utility beyond its current scope.

As the news broke out, investors reacted positively. With DOGE’s price running up on the charts by 14.74% at its peak in the day.

However, the hype died down soon after, resulting in the altcoin retracing its jump by 10%. Trading at a press time price of $0.0818, the rise didn’t really help DOGE recover the losses observed throughout the week.

Dogecoin price action | Source: TradingView – AMBCrypto

However, this still was not enough to excite the dormant investors who got into DOGE over the period of three months after the market began dipping in February.

Despite not facing a fall in price as worse as many other altcoins, DOGE has noted no significant