Dogecoin jumps 6% after SpaceX IPO on Nasdaq

Dogecoin rose roughly 6% to about $0.0905 on Friday after SpaceX began trading on Nasdaq under the ticker SPCX. The IPO priced shares at $171, raised about $75 billion and valued the company near $1.8 trillion. Reports said orders topped $350 billion and caused delays during the opening auction. The meme token outperformed much of the wider crypto market as traders reacted to the offering.

Investors revisited past links between Dogecoin and Elon Musk’s companies, including references to the DOGE-1 lunar mission and earlier mentions of Dogecoin by firms connected to Musk. No new partnership or technical integration between SpaceX and Dogecoin was announced after the IPO.

At the time of reporting, Dogecoin was trading near $0.0900, up more than 6% over 24 hours and about 9% for the week. The token remains 87.8% below its May 2021 all-time high of $0.7316.

Analysts and traders noted the price change reflected short-term sentiment rather than a confirmed business link. They highlighted factors that could influence the token’s next moves, including overall cryptocurrency market trends, Bitcoin’s price action and profit-taking after recent gains. Some market participants identified support near $0.09 and resistance between $0.10 and $0.12 as levels to watch.

Crypto analyst Altcoin Sherpa wrote on social media, “$DOGE: Crypto is often a game of relationships and relative comps. Elon = Doge pump, something I didn’t think about (but in hindsight makes a lot of sense). Good move today but probably a better scalp opportunity vs. swing play.”

Traders said they were watching order books and technical indicators for signs of sustained buying or renewed selling. If buyers hold Dogecoin above $0.09 and push toward $0.10–$0.12, some expect further short-term buying. If selling intensifies, market participants said the token could return to wider swings seen in prior trading.