The crypto space buzzed this week after Elon Musk reignited one of his oldest promises. A short exchange on X has sent waves through the Dogecoin community. The Tesla and SpaceX chief confirmed that putting Dogecoin on the moon remains firmly on the table.
As previously reported, the Tesla Owners Silicon Valley account pulled up a 2021 tweet from Musk. That original post teased the idea of SpaceX sending a physical Dogecoin to the moon. The account tagged Musk directly, asking, "When?" His reply was measured but clear. He wrote, "Maybe next year."
The X Exchange That Reignited the Meme Coin Rally
The official Dogecoin account on X was quick to respond. It posted "Such Rocket" alongside an image of a Shiba Inu displaying a look of surprise. The tone was playful. The message, however, carried real significance for the community.
Despite the optimism generated by Musk's comments, Dogecoin's price tells a more cautious story. The token hit a low of $0.094 on January 31. That drop came during a sharp weekend sell-off across the broader crypto market. Billions of dollars were wiped from derivatives positions during the same period. It was a brutal stretch for meme coins in particular.
A modest recovery followed in the days after. DOGE climbed back to $0.11 on February 2 before pulling back again. At the time of writing, the token was trading at approximately $0.1063. It was down 2.3% over the past 24 hours. The weekly picture remained weak, with a decline of nearly 14.58%.
The technical outlook presents two clear scenarios. If Dogecoin drops below the $0.10 support level, analysts point to $0.08 as the next likely target. On the other hand, a sustained break above $0.12 could open the door to a run toward $0.16. That level would represent a meaningful recovery from current prices. The market remains divided on which path is more probable in the short term.
