Elon Musk has rekindled investor interest in Dogecoin (DOGE) by raising the issue of launching memcoin to the moon in 2027.
Thus, the richest man in the world once again drew attention to the long-discussed DOGE-1 lunar mission.
The goal of the mission, which is fully funded by Dogecoin, is to collect data from the Moon and demonstrate how to use cryptocurrencies beyond Earth's orbit.
Elon Musk's SpaceX aerospace company is working on the DOGE-1 project. Initially, the launch was planned for mid-to-late 2026, but it was postponed several times.
Interestingly, Musk's tweets about Dogecoin usually provoke its growth. However, memcoin is still falling in value. At the time of writing, it was trading almost 14% lower than a week earlier. However, popular crypto analyst Patel noted that the price of DOGE is currently at a level that has historically led to significant growth. The last time the asset's exchange rate reached this zone, it rose by 17,000% in 2021 and by 600% in 2024.
The analyst outlined the target levels for Dogecoin: $0.50, $1.50 and $4.00. However, he noted that closing the week below $0.06 would refute the bullish forecast.