The spacex starship explosion is not directly related to dogecoin's price. elon musk's involvement might create short-term volatility but it is unlikely to have a significant long-term effect.
News about spacex generally affects the price of dogecoin due to elon musk's influence. however, this particular event's impact on doge is expected to be less pronounced compared to other news related to musk's projects or statements.
While there might be a brief spike in volatility, the overall direction of doge's price is expected to remain unchanged. the impact is largely contingent on how the crypto community reacts to the news in relation to musk's involvement.
Any price fluctuation due to the news will likely be short-lived, subsiding within a day or two as the market focuses on other factors.
Decrypt’s Art, Fashion, and Entertainment Hub. Discover SCENE The U.S. Federal Aviation Administration has opened an investigation into the SpaceX Starship's explosion over Turks and Caicos on Thursday. The explosion occurred during the craft's latest test launch, which SpaceX CEO Elon Musk has described as a key step toward humanity’s journey to Mars . “Following stage separation, the Starship upper stage successfully lit all six Raptor engines and performed its ascent burn to space,” SpaceX said in a statement . “Prior to the burn’s completion, telemetry was lost with the vehicle after approximately eight and a half minutes of flight. Initial data indicates a fire developed in the aft section of the ship, leading to a rapid unscheduled disassembly.” Since April 2023, SpaceX has tested the capabilities of its Super Heavy Booster and Starship spacecraft to launch and be recovered for future use. After the explosion, Musk addressed the issue on X (formerly Twitter), analyzing what went wrong based on preliminary data. “Preliminary indication is that we had an oxygen/fuel leak in the cavity above the ship engine firewall that was large enough to build pressure in excess of the vent capacity,” Musk wrote . “Apart from obviously double-checking for leaks, we will add fire suppression to that volume and probably increase vent area. Nothing so far suggests pushing next launch past next month.” Meanwhile, SpaceX successfully recovered the Super Heavy booster using a launch tower nicknamed "Mechazilla," which caught the booster between two massive arms. Despite this success, the FAA has ordered SpaceX to report on the Starship mishap. Mechazilla has caught the Super Heavy booster! pic.twitter.com/aq91TloYzY — SpaceX (@SpaceX) January 16, 2025 “The FAA is requiring SpaceX to perform a mishap investigation into the loss of the Starship vehicle during launch operations on Jan. 16,” the FAA said in a statement . “There are no reports of public injury, and the FAA is working with SpaceX and appropriate authorities to confirm reports of public property damage on Turks and Caicos.” In a message posted to X on Friday, the FAA said it would oversee SpaceX's investigation into the cause of the explosion and divert air traffic from the area. “The FAA ensures launches and reentries are safely and efficiently integrated into our national airspace,” the agency said. “In the event of a mishap, the FAA can rapidly identify affected airspace and take actions to safeguard aircraft from falling debris.” The FAA declined to comment on the investigation when contacted by Decrypt . Undaunted by the loss, SpaceX is preparing for the next Starship launch. “The ship and booster for Starship’s eighth flight test are built and going through prelaunch testing and preparing to fly," the firm said, "as we continue a rapid iterative development process to build a fully and rapidly reusable space transportation system.” Edited by Andrew Hayward Generally Intelligent Newsletter A weekly AI journey narrated by Gen, a generative AI model. Your Email Get it! Get it!