Elon Musk mentioned SpaceX will “possibly” put Dogecoin (CRYPTO: DOGE) on the literal moon subsequent yr, sparking an intraday rally on Tuesday, which was reversed to see DOGE and Shiba Inu (CRYPTO: SHIB) dump round 5% on the day.
The Musk Tease That Didn’t Work
The Tesla House owners Silicon Valley X account dug up Musk’s 2021 put up that “SpaceX goes to place a literal Dogecoin on the literal moon” and requested “When?”
Musk responded “Possibly subsequent yr,” then confirmed “Sure” when one other person mentioned “Doge on the moon is inevitable.”
Nevertheless, the positive factors evaporated as broader crypto weak spot dragged meme cash decrease.
The moon mission possible references the DOGE-1 satellite tv for pc mission deliberate by Canadian analysis agency Geometric Power Company, paid for completely with Dogecoin.
Initially slated to launch aboard a SpaceX Falcon 9 rocket by late 2023, the mission has confronted a number of delays. Geometric CEO Samuel Reid now targets a launch within the second half of 2026.
DOGE Technical Breakdown
Dogecoin is testing crucial $0.10 help—a psychological make-or-break level. A breakdown under triggers panic promoting towards $0.08-$0.09.
The token trades under all key EMAs: 20 EMA at $0.11988, 50 EMA at $0.13044, 100 EMA at $0.14650, and 200 EMA at $0.16834.
This creates a “dying zone” of resistance layers that caps any rally makes an attempt.
Including strain, a descending trendline intersecting round $0.12-$0.13 continues capping rallies. The Parabolic SAR at $0.11916 confirms the downtrend stays energetic.
For a real reversal, DOGE must reclaim $0.13-$0.14 and break above the descending trendline.
SHIB Faces Worse Harm
Shiba Inu is down 5%, displaying much more extreme technical weak spot than DOGE.
The Supertrend indicator sits at $0.00000806—roughly 23% above present costs—flashing bearish alerts.
The token checks crucial help round $0.000007, a stage examined a number of instances that represents a key psychological flooring. ‘
If the $0.0000065-$0.000007 zone fails, the subsequent vital help doesn’t seem till $0.000005-$0.000006.
The descending trendline creates a twin ceiling with the Supertrend resistance, making significant restoration difficult close to time period.
Any bounce faces quick resistance at $0.00000754, adopted by $0.00000806 on the Supertrend stage.
Picture: Shutterstock