In a disappointing turn of events, SpaceX’s spacecraft Starship exploded minutes after its launch from a launch pad in South Texas. According to CNBC reports, the spacecraft failed to reach orbit, but the failure did not seem to be catastrophic.
Originally, Starship was scheduled to launch on the 17th, but it was delayed just before launch due to rocket problems. The launch was highly anticipated, and many were hopeful that the successful launch would lead to a further rise in the price of Dogecoin, the cryptocurrency that Elon Musk has been openly promoting.
Congrats @SpaceX team on an exciting test launch of Starship!
Learned a lot for next test launch in a few months. pic.twitter.com/gswdFut1dK
— Elon Musk (@elonmusk) April 20, 2023
In fact, with Musk’s company ahead of the launch of the spacecraft, the price of Dogecoin continued to rise even as most major stocks fell until the departure of the New York market that day. There was a lot of buzz in the market, and many traders and investors were keeping a close eye on the launch, hoping to capitalize on any potential increase in the price of Dogecoin.
However, as news of the launch failure spread, the price of Dogecoin began to decline rapidly. Dogecoin was trading at $0.876, down 4.2% from 24 hours ago, according to TradingView.
The launch failure is undoubtedly a setback for SpaceX and Elon Musk, who have been working hard to develop space technologies and make space travel more accessible to humans. The Starship spacecraft was a key part of their plans, and the failure is a blow to their efforts.
Nevertheless, it is worth noting that the failure does not seem to be catastrophic, and it is likely that SpaceX will learn from this experience and make improvements for future launches. As for the impact on Dogecoin, only time will tell if the cryptocurrency will recover from this setback or continue to decline.
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