**Elon Musk Triggers 300% DOGE-1 Rally After Surprise Endorsement**

SpaceX CEO Elon Musk sparked a massive rally in the DOGE-1 market on Monday after posting a brief but impactful message on his social media platform X. Simply stating “it’s time,” Musk’s update sent traders rushing to take positions in the memecoin, driving its value sharply higher.

Prior to Musk’s tweet, DOGE-1 Satellite had been moving in line with the broader cryptocurrency market, which has seen downward pressure since the start of the week. The token had slipped to an all-time low of $0.000282 amid the market downturn, but Musk’s cryptic message flipped the momentum, pushing DOGE-1 over 300% above the November 3 lows.

Elon Musk (@elonmusk) once again ignited excitement in the Dogecoin community by saying, “It’s time” to send Dogecoin to the moon. Following his statement, the memecoin DOGE-1 surged approximately 300%.

Smart trader “god.sol aka Mitch,” known for previously profiting $2.8 million trading memecoins, jumped into the rally by spending 100 $SOL (around $14,800) to acquire 16.27 million DOGE-1 tokens.

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The message was a direct reply to Dogecoin community member DogeDesigner, who referenced Musk’s 2021 declaration that SpaceX would “put a literal Dogecoin on the literal moon,” alongside a rallying call: “No Highs, No Lows, Only DOGE.”

### DOGE-1’s All-Time Low Slump Halted by Musk Rally

Before the SpaceX CEO’s message, DOGE-1 had been languishing near historic lows. However, the token rebounded past $0.0011 following an unexpected price correction triggered by the renewed investor interest.

This upward momentum defied the broader negative trends in the crypto market. DOGE-1’s market capitalization climbed 367.34%, reaching $9.174 million within 24 hours of Musk’s tweet. Although the valuation has since pulled back slightly to around $7.2 million, it remains a substantial 266% above its value at the start of Monday’s market turbulence.

### About DOGE-1 Satellite

DOGE-1 Satellite (DOGE-1) is a Solana-based meme token created to support the upcoming SpaceX DOGE-1 lunar satellite mission. Announced in 2021, this pioneering mission aims to take the first-ever commercial payload paid entirely in Dogecoin to the moon, marking a significant milestone for cryptocurrency and space exploration.

As the project gains momentum, DOGE-1 continues to garner attention from both crypto enthusiasts and space fans alike, fueled significantly by Elon Musk’s ongoing support and influence.

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Stay tuned for more updates on DOGE-1 and other crypto developments as the SpaceX lunar mission progresses.
https://bitcoinethereumnews.com/finance/elon-musk-triggers-300-doge-1-rally-after-surprise-endorsement/