Dogecoin pumps rapidly, as the Doge-1 mission secures approval

Doge-1 secured green signal from the National Telecommunications and Information Administration (NTIA). That means, Doge-1 mission is one step more close to the main goal.

Dogecoin (Doge) is a popular meme coin. In 2013, this cryptocurrency was launched by Billy Marcus & Jackson Palmer. Currently both the co-founders are outside of this project. In 2021, Tesla CEO Elon Musk re-arranged a new backend team behind this cryptocurrency to push the necessary development for efficiency enhancement of this blockchain. 

On 29 Nov 2023, the National Telecommunications and Information Administration (NTIA) green signalled the Dogecoin-funded DOGE-1 Mission. 

The National Telecommunications and Information Administration (@NTIAgov), a Department of Commerce (@CommerceGov) agency, approved DOGE-1 X-Band (0083-EX-CN-2022 on https://t.co/b6iEAYdTPV)

We have yet to get the FCC license grant which will address X-Band and S-Band $XI pic.twitter.com/YSJoyLclQk

— SΔMUΞL RΞIÐ (e/acc) (@SamuelReidGEC) November 28, 2023

Now in the next phase, this mission requires approval from the final Federal Communications Commission (FCC) which will address the X-Band and S-Band communications for the satellite. 

Astrobotic’s Peregrine Mission One mission will take place on 23 Dec and with that mission, they will carry the first physical Dogecoin to the moon. 

The first time this mission was planned by Elon Musk was in May 2021. At the time he said that he would launch this Dogecoin-funded space project by 2022.

SpaceX launching satellite Doge-1 to the moon next year

– Mission paid for in Doge
– 1st crypto in space
– 1st meme in space

To the mooooonnn!!https://t.co/xXfjGZVeUW

— Elon Musk (@elonmusk) May 9, 2021

This shows Doge-1 delayed badly because of such approvals but now probably it is going to be a good thing for Dogecoin because in the present time crypto market is moving toward a big rally and this news will help Dogecoin to show a significant pump in the trade price.

Amid the bull phase of this innovation, the on-chain activities on the Dogecoin network surged rapidly. 

Nearly 1.5M transaction on the #Dogecoin network over the past 24 hours. Most of the traffic is connected to dust (very small transaction taking advantage of Dogecoin's low fees and dust limits).

Please note that the Dogecoin network is chugging along just fine and you can… pic.twitter.com/ArDsOLEgcm

— Mishaboar (@mishaboar) November 28, 2023

Tesla CEO Musk jumped to support Dogecoin in 2020. At the time he said that Dogecoin would become the best cryptocurrency for payments if this sector will survive.

The current trade price of Doge is $0.08 & this trade price has surged 4.73% over the last 24 hours because of the Doge-1 mission news. 

Read also: CFTC planning to take action against Bybit crypto exchange: Report