Dogecoin Drops 7.5% as Elon Musk’s SpaceX Loses Starship Spacecraft

Dogecoin’s market value recently experienced a 7.50% drop, going from $0.0857 to $0.0802, following an unexpected development from SpaceX.

The aerospace company, led by Elon Musk, reported the loss of its Starship spacecraft during a key test flight. This marks a significant setback for SpaceX’s deep-space launch system, notably its second major test flight challenge.

Dogecoin Price Performance. Source: TradingView

SpaceX engineer John Insprucker, during a livestream, disclosed that the Starship’s automated flight termination system likely activated prematurely during its course.

“What we do believe right now is that the automated flight termination system on second stage appears to have triggered very late in the burn as we were headed downrange out over the Gulf of Mexico,” Insprucker said.

This incident not only affected SpaceX’s space exploration goals but surprisingly sent ripples through the crypto market, evidenced by the sharp decline in Dogecoin’s valuation.