Dogecoin Price Analysis Following SpaceX's DOGE-1 Mission Announcement

Dogecoin Price Movement Post SpaceX Announcement

Dogecoin has seen a 3.16% decrease to $0.102, following a 17.8% drop over the past week. This downturn coincides with a broader risk-off sentiment in the crypto market after SpaceX's DOGE-1 mission, funded by Dogecoin, was announced for 2027. The price trajectory remains constrained within a downward trend, marked by consistently lower highs since late 2025.

Testing Key Support Levels

Dogecoin is currently testing the $0.10 support level after briefly dipping below $0.11 and touching $0.108. The overall crypto market value has decreased by 3.89%, with Bitcoin nearing the $70k threshold, contributing to the prevailing bearish market sentiment.

SpaceX's DOGE-1 Moon Mission Rescheduled

Elon Musk has reignited interest in SpaceX's plan to send Dogecoin to the moon, now scheduled for 2027. Originally slated for 2021, the DOGE-1 project faced delays, pushing its timeline to mid-2026. Musk's recent social media comments hint at the mission's future, although market enthusiasm has not translated into price stability for Dogecoin.

Market Impact and Future Projections

Despite the excitement surrounding the mission, Dogecoin's value continues to decline. Musk, CEO of SpaceX, Tesla, and X, has also announced plans for a company IPO this year and confirmed SpaceX's acquisition of the AI firm, xAI.

Dogecoin Price Forecast: Reversal or Continued Decline?

The Dogecoin price has fallen to $0.10379 as of February 4, 2026, marking a 0.36% drop in 24 hours. Critical support lies at $0.10, with potential backing at $0.09 if prices dip further. Resistance is noted at $0.12, a significant barrier for Dogecoin. Breaking this resistance could indicate a possible reversal.

The MACD indicator signals negative momentum, with its line below the signal line, suggesting short-term bearish movement. Meanwhile, the RSI stands at 40.08, slightly above the oversold threshold.