Elon Musk Ignites DOGE-1 Rally: Satellite Memecoin Surges 300% After a Single Tweet

The memecoin market experienced another wild upswing after Elon Musk, CEO of SpaceX, sent DOGE-1 skyrocketing within hours. A single post on his platform X — simply stating “It’s time” — triggered a massive buying wave, pushing the token up by more than 300% from its weekend lows.

Musk’s Post Sparks a Memecoin Frenzy The post was a direct reply to Dogecoin community member DogeDesigner, who reminded Musk of his 2021 statement: “SpaceX will put a literal Dogecoin on the literal Moon.” Shortly after, DOGE-1 — the satellite-linked token tied to SpaceX’s upcoming lunar mission — soared from $0.000282 to $0.0011. Its market capitalization ballooned 367% to over $9 million within 24 hours before settling near $7.2 million.

What Is DOGE-1? DOGE-1 is a Solana-based meme token connected to SpaceX’s DOGE-1 lunar mission. The satellite, funded by the Dogecoin community, will broadcast ads, logos, and visual content from lunar orbit, streaming live via YouTube and Twitch. The project aims to fuse cryptocurrency, space exploration, and marketing into one ambitious ecosystem.

Major Whale Activity: Trader “Mitch” Strikes Again Blockchain tracker Lookonchain revealed that well-known memecoin trader “god.sol,” also known as Mitch, bought 16.27 million DOGE-1 tokens for 100 SOL (≈ $14,800). His holdings are now worth around $18,500. Mitch is already a legend among traders — having made over $2.8 million from short-term memecoin flips. Responding to the community hype, he posted humorously: “Why call me a smart trader? Just because I made millions? I’m an idiot, fra fra.”

Dogecoin Struggles While DOGE-1 Shines While Musk’s satellite-linked token rallied, the original Dogecoin (DOGE) has been under heavy selling pressure.

Data from Santiment shows that wallets holding 10–100 million DOGE sold roughly 1 billion coins in recent days, deepening market weakness. Dogecoin’s market cap plunged from $55.7 billion to $24.4 billion in just a week — a loss of over $30 billion. The token fell below $0.18, briefly touching $0.1648, though it’s up 0.8% in the past 24 hours. DOGE remains down 35% over the past month, suggesting that the latest bounce is likely a tactical rebound rather than the start of a lasting uptrend.

Broader Market Consolidation as Bitcoin Strengthens The DOGE-1 spike arrived amid a red week for crypto: Ethereum fell 8.2%,Solana dropped 4.9%,while the TRUMP token slid 0.6%. Meanwhile, Bitcoin’s dominance climbed to a seven-day high of 59.95%, signaling that investors are consolidating into larger-cap assets while waiting for the next wave of volatility from smaller memecoins.

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