Dogecoin Sees a 7.5% Decline Following the Setback in SpaceX’s Starship Spacecraft by Elon Musk

Crypto News- The recent market turbulence surrounding Dogecoin unfolded as a consequence of a pronounced 7.50% downturn in its valuation, witnessing a shift from $0.0857 to $0.0802. The catalyst behind this unexpected development was a setback experienced by SpaceX, the aerospace company spearheaded by the influential entrepreneur Elon Musk.

Dogecoin Sees a 7.5% Decline Following the Setback in SpaceX’s Starship Spacecraft by Elon Musk

SpaceX faced a setback with the reported loss of its Starship spacecraft during a critical test flight, marking a substantial hurdle in the trajectory of the company’s deep-space launch system. This incident represents a noteworthy setback, constituting the second major challenge encountered by SpaceX in its ambitious test flight endeavors. SpaceX engineer John Insprucker, providing insights during a livestream, disclosed that the automated flight termination system on the Starship’s second stage likely activated prematurely during the mission.

Insprucker explained, “At this point, we do believe that the automated flight termination system on the second stage appears to have triggered very late in the burn as we were headed downrange out over the Gulf of Mexico.”

The repercussions of this setback extended beyond SpaceX’s space exploration goals, as they unexpectedly reverberated through the cryptocurrency market. Dogecoin, in particular, experienced a sharp decline in its market value as a result of this unanticipated event. The interplay between the realms of space exploration and cryptocurrency showcased the interconnectedness of various industries and the influence of external events on the digital asset landscape.