• Musk announced the launch of the Doge-1 mission to space back in 2021, whereby a SpaceX Falcon 9 rocket will orbit the moon with the entire mission paid for in Dogecoin.
• Geometric Energy Corp CEO Samuel Reid confirmed via X platform that the NTIA approved the DOGE-1 X-Band but the mission is yet to get the FCC license grant to address X-Bank and S-Band.

The highly anticipated DOGE-1 mission, which is geared to take the top meme coin Dogecoin (DOGE) to the moon, has archived a step closer to fruition after the National Telecommunications and Information Administration (NTIA), which forms a precursor to the final Federal Communications Commission (FCC) license, issued a crucial approval for the mission.

Notably, the NTIA approved the DOGE-1 satellite X-Band, which is a bank of frequency in the microwave radio used in radar engineering, thus making the target launch of January 2024 achievable. According to the DOGE-1 mission, the DOGE logo will head to lunar orbit and broadcast advertisement images to Earth from space.

“The National Telecommunications and Information Administration approved DOGE-1 X-Band (0083-EX-CN-2022),” confirmed Samuel Reid, CEO of Geometric Energy Corporation, in an X post.

We have yet to get the FCC license grant which will address X-Band and S-Band.”

Musk Props Dogecoin Amid Heavy Criticism

The Dogecoin network is heavily bolstered by the unwavering support from the most influential and wealthiest man worldwide, Elon Musk. With over 164 million followers on the X platform, Musk has combined the Dogecoin logo with X on his timeline to showcase the meme coin to all investors.

The $11.6 billion valued meme coin is expected to significantly benefit from the notable support from Musk during the next major crypto bull cycle. Moreover, the proof-of-work secured meme coin has attracted notable institutional investors like Robinhood who are diversifying their crypto portfolio for high return vs risk ratio.

At the height of the 2021 crypto bull cycle, Musk announced that he would make DOGE the first crypto and meme in space through SpaceX. The notable support caused some investors to file a lawsuit accusing Musk of market manipulation and insider trading through tweets that often increase the meme coin’s volatility. However, Musk and his attorneys have called on the court to end the $258 billion lawsuit due to lack of merits.

Market Outlook and Price Action

While Bitcoin price portrays short-term weaknesses that could result in consolidation and correction in the coming weeks, Dogecoin price has been signaling further gains in the last four weeks of the year. According to our latest market data, the Dogecoin price is on the cusp of a major bullish breakout to trade above 10 cents.

Trading around $0.081 on Thursday, the Dogecoin price has already broken out of a macro descending triangle backed by the recent daily golden cross between the 50 and 200 Moving Averages (MA). With the rising Dogecoin daily trading volume, the leading meme coin could easily rally further soon.

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