I have always been fascinated with Dogecoin (DOGE).
Launched in December 2013, Dogecoin is a meme coin that began as a parody of Bitcoin (BTC) for the latter's belief that decentralized finance (DeFi) could challenge Wall Street.
But it went viral due to praise from tech tycoon Elon Musk and is now the tenth-largest cryptocurrency with a market capitalization of more than $18 billion.
Related: Elon Musk's X cracks down on AI bot rewards, triggering token crash
As the billionaire's SpaceX plans to go public this year, Musk confirmed on Feb. 2 that the space technology company has acquired his artificial intelligence startup, xAI.
Ahead of the IPO, an X account called Tesla Owners Silicon Valley dug up Musk's old post from 2021 in which he said, "SpaceX is going to put a literal Dogecoin on the literal moon."
When the Tesla Owners Silicon Valley's X account asked Musk when it's going to happen, he responded , "Maybe next year."
When another X user said , "Dogecoin on the moon is inevitable," Musk responded in the affirmative .
This isn't the first time Musk has reignited such hopes. In November last year, he hinted that he hasn't forgotten about SpaceX's moon mission for the meme coin.
Musk's support for Dogecoin is public knowledge. In fact, the acronym of the Department of Government Efficiency that he headed under the Donald Trump administration is the same as that of the popular meme coin.
Moreover, xAI is hiring a crypto expert who will generate training data to teach AI models the complexities of crypto markets.
More News:
Dogecoin attempts price recovery
Within the last three months, Dogecoin has lost 35% of its value due to the Oct. 10 flash crash. However, it has risen, although only 1% in 24 hours, after Musk's X posts.
At the time of writing, Dogecoin was exchanging hands at $0.1077. It is still over 85% lower than the all-time high (ATH) of $0.7316 that it hit on May 8, 2021.
Related: What are meme coins? Explained
This story was originally published by TheStreet on Feb 3, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
