The world's largest meme token Dogecoin (DOGE) saw a sudden drop in price after Elon Musk's SpaceX company's Starship rocket exploded in mid-air.
Despite SpaceX Officials Saying The Test Was Successful, The Explosion Of The Rocket Dropped The Price Of Dogecoin
However, the rocket in question was launched for testing purposes and did not have any crew. In addition, the main purpose of the test was to carry out the launch of the rocket, so the test can be considered successful.
The rocket, which was expected to be launched a few days ago under normal conditions, was delayed due to the incomplete preparations, so the launch was made on April 20, also known as Dogecoin day.
Due to Elon Musk's close relationship with his favorite cryptocurrency, Dogecoin, the DOGE price had climbed prior to this launch.
SpaceX management has repeatedly stressed the experimental nature of the launch and said that any outcome involving Starship leaving the launch pad will be a success.
The Starship is designed to transport cargo and people off Earth and is critical to NASA's plan to get astronauts back to the Moon. Two years ago, SpaceX won a nearly $3 billion contract from NASA to use Starship as a crewed Moon lander.
Thus, the Starship would be used as part of NASA's Artemis lunar program, bringing astronauts to the lunar surface with the institution's SLS rocket and Orion capsule.
The company had hoped to launch its first orbital Starship launch as early as summer 2021, but faced delays in development and obtaining FAA approval, which came late Friday.
*Not investment advice.