SpaceX Lands, Musk Trillionaires, and DOGE Does Its Best Impersonation of a Stock 📈

Dogecoin climbed roughly 6% over 24 hours to trade near $0.0900 after SpaceX's record-setting initial public offering on Nasdaq, an event that also pushed Elon Musk's net worth into trillionaire territory. DOGE's performance made it one of the top gainers across major cryptocurrencies on the day, while Bitcoin briefly retested the $64,000 support level amid the broader market rebound. The move revived the long-standing correlation between Musk-linked assets and speculative crypto activity.

SpaceX, listed under the ticker SPCX, priced its shares at $171 and raised approximately $75 billion at a valuation of close to $1.8 trillion, according to one report. A separate account, citing Yahoo Finance, placed the company's valuation above $2.1 trillion after shares opened at $150, an 11% jump from a reported IPO price of $135, before climbing further to $163. Strong demand reportedly generated more than $350 billion in orders, creating delays during the opening auction process. The debut made Musk, long known in crypto circles as the "DOGE Father," the first individual to reach a net worth above $1 trillion.

Dogecoin has historically reacted to major Musk-related developments, including Tesla's acceptance of DOGE for merchandise purchases and prior discussions of potential payment integrations within X. Traders cited past references to the DOGE-1 mission as speculation intensified around possible future uses for the token across Musk-led projects, though no new integration has been announced. Altcoin Sherpa (@AltcoinSherpa) wrote on X: "$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." The post was dated June 12, 2026.

According to BeInCrypto Markets data, DOGE was up more than 6% over the past 24 hours and nearly 9% over seven days, still trading 87.8% below its all-time high of $0.7316 set in May 2021.