Elon Musk said SpaceX will “maybe” put Dogecoin (CRYPTO: DOGE) on the literal moon next year, sparking an intraday rally on Tuesday, which was reversed to see DOGE and Shiba Inu (CRYPTO: SHIB) dump around 5% on the day.
The Musk Tease That Didn’t Work
The Tesla Owners Silicon Valley X account dug up Musk’s 2021 post that “SpaceX is going to put a literal Dogecoin on the literal moon” and asked “When?”
Musk responded “Maybe next year,” then confirmed “Yes” when another user said “Doge on the moon is inevitable.”
The initial reaction faded fast. DOGE briefly rallied over 4% in early Tuesday trading, outperforming Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).
However, the gains evaporated as broader crypto weakness dragged meme coins lower.
The moon mission likely references the DOGE-1 satellite mission planned by Canadian research firm Geometric Energy Corporation, paid for entirely with Dogecoin.
Originally slated to launch aboard a SpaceX Falcon 9 rocket by late 2023, the mission has faced multiple delays. Geometric CEO Samuel Reid now targets a launch in the second half of 2026.
DOGE Technical Breakdown
Dogecoin is testing critical $0.10 support—a psychological make-or-break point. A breakdown below triggers panic selling toward $0.08-$0.09.
The token trades below 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 “death zone” of resistance layers that caps any rally attempts.
Adding pressure, a descending trendline intersecting around $0.12-$0.13 continues capping rallies. The Parabolic SAR at $0.11916 confirms the downtrend remains active.
For a genuine reversal, DOGE needs to reclaim $0.13-$0.14 and break above the descending trendline.
SHIB Faces Worse Damage
Shiba Inu is down 5%, showing even more severe technical weakness than DOGE.
The Supertrend indicator sits at $0.00000806—approximately 23% above current prices—flashing bearish signals.
The token tests critical support around $0.000007, a level tested multiple times that represents a key psychological floor. ‘
If the $0.0000065-$0.000007 zone fails, the next significant support doesn’t appear until $0.000005-$0.000006.
The descending trendline creates a dual ceiling with the Supertrend resistance, making meaningful recovery challenging near term.
Any bounce faces immediate resistance at $0.00000754, followed by $0.00000806 at the Supertrend level.
Image: Shutterstock
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