Elon Musk: Dogecoin to land on the moon in 2027, DOGE price surges then quickly pulls back

On February 3rd, Elon Musk responded that a dogecoin moon landing might happen “perhaps next year,” which caused DOGE’s price to jump 5% to $0.109 before retreating to around $0.1068. The official account replied with “Such Rocket.” The DOGE-1 satellite project is funded by dogecoin, utilizing a Falcon 9 rocket, and was originally scheduled for 2023 but has now been delayed to 2027.

Elon Musk Reiterates 2021 Promise: Dogecoin to Land on the Moon in 2027?

That day, the Tesla Owners Silicon Valley account tagged Musk and shared a screenshot of his 2021 promise to “send physical dogecoin to the moon.” Musk briefly responded, “Maybe next year.” This remark immediately triggered a chain reaction in the crypto market, with dogecoin’s price surging nearly 5% within 24 hours, reaching a peak of $0.109, then falling back to about $0.1068. Despite the overall market sentiment being relatively calm, dogecoin outperformed the top ten cryptocurrencies by market cap during this rally, doing better than Bitcoin, which only rose 2.4%.

This isn’t the first time Musk has mentioned a dogecoin moon landing. During the 2021 bull market peak, Musk discussed dogecoin extensively on SNL and promised that SpaceX would carry out the DOGE-1 lunar mission. At that time, dogecoin’s price soared to $0.7, with a market cap exceeding $90 billion. However, the subsequent crash caused many investors to be trapped, with dogecoin falling from $0.7 to $0.05—a decline of over 90%. This painful experience has made many more cautious about Musk’s hype.

The “DOGE-1” mission being revisited is a small satellite project fully funded by dogecoin. It plans to use SpaceX’s Falcon 9 rocket to send a 40-kilogram CubeSat into lunar orbit. SpaceX Vice President Tom Ochinero stated that the mission aims not only to gather lunar data but also to demonstrate the practical application of cryptocurrencies beyond Earth’s orbit, laying the foundation for future “interstellar commerce.”

The satellite is expected to carry cameras and sensors, with plans to transmit images and advertisements back to Earth. Although the project was publicly announced in 2021, it has experienced multiple delays due to technical challenges and regulatory hurdles. Musk’s latest comments suggest that the project might be officially launched around 2027. If it truly launches “next year” (2027), that will be six years after the original 2021 promise. Such long delays are not uncommon in aerospace, but they deal a significant blow to crypto market hype.

Dogecoin Official “Such Rocket” Community Celebrates

(Source: X)

In response to Musk’s statement, the official dogecoin X account humorously replied with “Such Rocket,” accompanied by a classic Shiba Inu meme image, showing the community’s high enthusiasm for the project. “Such Rocket” is a well-known phrase style within the dogecoin community, characterized by deliberately broken grammar and the frequent use of adverbs like “much,” “very,” “so,” “such,” originating from the viral Doge meme in 2013. The official reply maintains the brand’s playful tone and pays homage to longtime fans.

This interaction between the official account and Musk has sparked a community frenzy. Thousands of comments, retweets, and memes flooded social media, with “To the Moon” slogans echoing across crypto Twitter. However, this celebration is more emotional venting than rational investing. When the price only rises 5% and then quickly falls back, it shows that the market has become immune to Musk’s “pie in the sky” promises. The painful lessons from 2021 have taught investors to “wait and see”—any promises made before a rocket launch are just hot air.

Analysts note that dogecoin’s current value still heavily depends on Musk’s public support, and its price has fallen about 90% from its 2021 peak. Dropping from $0.7 to around $0.1, this severe decline has trapped many investors. Musk’s every statement can trigger short-term volatility, but sustained growth is unlikely. The 5% increase was reversed within hours, proving that the market is numb to verbal promises alone.

Nevertheless, the DOGE-1 mission has successfully passed some regulatory reviews, making it one of the most closely integrated crypto projects with the aerospace industry. This regulatory progress is a tangible positive sign, indicating that the project is not just Musk’s whim but a serious, officially approved aerospace venture. NASA and FAA’s strict review process for commercial space missions means that passing the review itself demonstrates DOGE-1’s technical feasibility.

House of Doge Applications and ETF Inflows Improve Fundamentals

Beyond meme narratives, dogecoin’s ecosystem is making tangible progress. Noted analyst Trader Tardigrade pointed out that dogecoin’s current trend closely resembles the pattern before the 2020 rally, and as funds flow from safe-haven assets into risk assets, dogecoin could see a strong rebound. Additionally, ecosystem developments are underway, such as the upcoming launch of the House of Doge’s dedicated payment app, Such App, which will allow users to create wallets and trade tokens directly. The app is scheduled for release in the first half of the year, targeting small businesses.

This payment application is a key step in dogecoin’s evolution from a meme coin to a practical payment tool. For years, dogecoin has been criticized for lacking real utility, sustained only by Musk’s hype and community sentiment. If Such App can be successfully promoted and adopted by small businesses and individual users for daily transactions, it could significantly increase dogecoin’s intrinsic value. Establishing real-world payment scenarios would transform dogecoin from a speculative asset into a functional currency.

On the institutional front, dogecoin spot ETFs are gradually gaining traction. Recent data shows that such funds experienced inflows yesterday, with total net inflows approaching $7 million. While this is small compared to Bitcoin ETFs, which have hundreds of billions of dollars under management, for a meme coin like dogecoin, being packaged into an ETF and attracting institutional investment is a major breakthrough. The ETF structure offers traditional investors a compliant way to participate in dogecoin without directly holding tokens or managing wallets.

Although many believe dogecoin lacks the fundamental improvements of projects like Ethereum or Solana, its strong community support combined with Musk’s corporate influence keeps it a unique player in the crypto space. This “meme + celebrity + community” combination, while not as technically robust, leverages the attention economy and provides intangible value. Dogecoin’s brand recognition may be second only to Bitcoin, and this intangible asset could translate into real advantages in future payment and commerce applications.

Despite Musk’s statements causing community excitement, industry experts remain cautious about actual progress. The DOGE-1 mission was originally scheduled for launch in late 2023 but has been delayed to late 2026, with no confirmed launch date. These repeated delays are a core reason why dogecoin’s price cannot sustain upward momentum. The “boy who cried wolf” effect has made the market skeptical. Only when the rocket actually launches and the satellite successfully enters orbit will Musk’s promises translate into lasting price support.