Dogecoin price has recently experienced a 3.16% drop to $0.102, following a week of 17.8% losses. This decline comes amid a risk-off shift in the cryptocurrency market after the announcement of SpaceX’s Dogecoin-funded mission launch in 2027. The price action has been restricted within a downward channel, with consistent low highs since the end of 2025.
Dogecoin price has been testing the support at $0.10 after falling under $0.11, momentarily hitting the support at $0.108, and stalling. The overall crypto market value fell by 3.89% as well, with Bitcoin price approaching the $70k mark, all adding to the general downward trend.
Elon Musk’s SpaceX Revives Dogecoin Moon Mission for 2027.
Elon Musk has reignited the possibility of sending Dogecoin to the moon, a mission SpaceX is planning for 2027. This goal project, called DOGE-1, was initially planned in 2021 but began to experience delays, shifting the schedule to mid-2026.
In a latest comment on a social media platform X, Musk answered a question of one of his fans about the mission with a nonchalant reply that he will be doing it next year, which is speculative of the future of the mission.
In spite of the hype of the project, the market value of Dogecoin was not impacted, and the cryptocurrency keeps falling.
Musk, who is the leader of SpaceX, Tesla, and X, also made some statements of the future direction of his company, such as IPO later this year. Furthermore, he confirmed the purchase of his AI company, xAI, by SpaceX.
When @elonmusk ? pic.twitter.com/Ugc6Dcl7xe
— Tesla Owners Silicon Valley (@teslaownersSV) February 3, 2026
DOGE-1 mission may be a very big jump to Dogecoin as it demonstrates its use outside the orbit of the Earth. The mission will focus on putting the meme cryptocurrency in space, and the last destination will be the moon.
Dogecoin Price Prediction: Is DOGE Set for a Reversal or Further Decline?
The latest DOGE price crashed to $0.10379 on February 4, 2026, showing a decline of 0.36% in the last 24 hours.
The major support area is in the range of $0.10. In case the DOGE price remains below this level, then it can be supported at other levels at $0.09.
On the positive side, the resistance is observed at $0.12, which has been a major obstacle to the meme coins.
If the Dogecoin long-term prediction manages to break through this level, it could signal a reversal.
The MACD indicator is now indicating negative momentum, and the line is below the signal, which shows a bearish movement in the short run. In the meantime, the RSI (Relative Strength Index) appears at 40.08, slightly beyond the oversold area.
