The Dogecoin worth is presently in an upward momentum because of optimistic sentiment for the token. The development got here as Elon Musk made one other bullish put up on the meme coin.
Elon Musk DOGE Moon Put up Triggers Dogecoin Value Rally
The meme coin has seen a rise in its worth following feedback from SpaceX and Tesla CEO Elon Musk. He mentioned that he would possibly ship DOGE to the moon subsequent 12 months after the CEO was reminded of his 2021 pledge to realize this purpose.
Perhaps subsequent 12 months
— Elon Musk (@elonmusk) February 3, 2026
This assertion has revived the DOGE-1 mission, which is supposed for accumulating knowledge from the moon. This mission is sponsored solely by Dogecoin. Based on Tom Ochinero, the Vice President of SpaceX, this mission will display the implementation of cryptocurrencies past Earth orbit.
This mission has been delayed a number of instances, but it surely has not been launched but, and previous to Musk’s assertion, it was anticipated that this mission could be launched in mid- to late 2026. Nevertheless, after this coymment, the Dogecoin worth jumped by practically 5% within the final 24 hours to a excessive of $0.109 earlier than retracing to $0.1068.
The meme coin led the positive aspects among the many high 10 cryptocurrencies by market cap within the early hours of Tuesday. The crypto market additionally elevated by 2% within the final 24 hours. Bitcoin has risen above $78,000. It has underperformed DOGE right this moment by rising solely 2.4%.
Bulls would proceed to look at the scenario over time to see if the founder retains to his guarantees in hopes of seeing the Dogecoin worth regain earlier highs.
Knowledgeable Turns Bullish on DOGE
For the reason that remark was made by Elon Musk, extra crypto specialists have gotten extraordinarily optimistic on the token’s upside. In a current X put up, outstanding knowledgeable, Dealer Tardigrade mentioned that he expects the meme coin to “pump onerous.” He in contrast the US-dollar index and gold’s motion in relation to the coin’s 2020 rally.
“Simply earlier than 2020: DOGE bottomed whereas $DXY & Gold have been topping out Capital rotated out of “protected” property into risk-on Precisely the identical setup right this moment,” he mentioned.
This Dogecoin worth bullish setup will also be backed by utility developments. Final month, Home of Doge shared that it could launch a DOGE fee app for its buyers. It might permit customers to create a pockets, purchase the token, and make transactions within the app.
So as to add, Dogecoin ETFs appear to be gaining momentum after their preliminary sluggish begin. The funds recorded recent inflows yesterday amid the return of capital available in the market. It now holds practically $7 million in internet influx.
