Dogecoin (DOGE-1) surged 300% after Elon Musk announced that SpaceX plans to “put a literal Dogecoin on the literal Moon”. The statement sparked a fresh wave of enthusiasm across crypto markets, driving a sharp rally in meme coins and reigniting speculative momentum.
Trader “god.sol aka Mitch” invested $14,800 (100 SOL) to acquire 16.27 million DOGE-1 tokens shortly after the announcement. The trader, known for earning $2.8 million from previous meme coin rallies, joined the surge as trading volumes spiked across major exchanges.
The event underscores Dogecoin’s ongoing sensitivity to Musk’s influence and highlights the speculative nature of meme coins, where social media activity can rapidly fuel extreme price swings.