Will SPXC Price Gain Momentum Following Elon Musk Connection?

SpaceX Coin is a new cryptocurrency with a big goal: to be the main way to pay for everything needed for space missions. This includes funding for traveling to other planets, setting up places to live, growing food, and even building entertainment spots in space. The main idea behind SpaceX Coin is to make it the go-to currency for space exploration and living on other planets. Think of it like the money we use on Earth, but for space. It’s not just about sending people to Mars or the Moon; it’s about making sure they have everything they need to live there, like homes, farms, and things to do for fun. The goal is big: SpaceX Coin wants to create a whole system that can keep people alive on other planets. This isn’t just about having enough money for a few space trips. It’s about setting up a whole economy that works in space and keeps supporting space projects for a long, long time. In short, SpaceX Coin is trying to do something really new. It’s mixing crypto with space travel. The idea is to make space missions easier to fund and manage, especially when we start building and living in places far away from Earth. Though there were controversies regarding scams and Elon Musk’s involvement, the future for the SpaceX token looks bright as this meme coin has some utilities. In this article, we’ll explore SpaceX coin price prediction, its current market performance with in-depth technical analysis and future price targets.

SpaceX Token: Introduction

Engineers from Purdue University and Georgia Tech, inspired by Elon Musk’s vision of a multi-planetary human species and Mars exploration, have launched a cryptocurrency named ‘SpaceXCoin’, in homage to Musk’s SpaceX rocket company. Their objective is to establish a sustainable cryptocurrency that functions as a means of exchange during space missions and serves as the primary currency for settlers on Mars. SpaceXCoin represents the first crypto project driven by community support and backed by an aerospace research company, SpaceXCoin Enterprise Inc., based in Florida, USA.

SpaceXCoin was created on the Binance Smart Chain (BSC) Network. It has a total maximum supply of 1 quadrillion (1,000,000,000,000,000) coins. The current circulating supply is also 1 quadrillion (1,000,000,000,000,000) coins.

SpaceXCoin’s transaction tax system is designed to support various aspects of the project:

• Liquidity Pool: 1% tax from each transaction is auto-burned, reducing the total supply over time.
• Reflection: 3% of each transaction is distributed to SpaceXCoin holders, rewarding them for holding the coins.
• Marketing: 3% tax is allocated for marketing efforts to promote the coin.
• Space Exploration: Another 3% goes towards funding space projects, aligning with the coin’s mission to support space exploration.

SpaceXCoin’s CEO, Qazi Shakoor, also known as Mr. Spock, a mechanical engineer, expressed his enthusiasm for the project: “It’s time for us to start preparing for our journey to space, most importantly for Mars. Being part of the Starship journey, carrying over 100 people and 100 tons of payload, and traveling 140 million miles through space to Mars over 7.5 months in microgravity, will be an inspiring experience.”

SpaceX Coin: Ecosystem

SpaceXcoin creates an ecosystem filled with utilities that will form a robust foundation for BlockchainX and SpaceXMetaverse.

Here’s a breakdown of the key platforms and utilities within the SpaceXcoin ecosystem:

SpaceXCoin Gift Cards: SpaceXcoin introduces SpaceXCoin gift cards, available in denominations of $100, $300, and $500. These cards are sold in select Walgreens and local gas stations across the United States. Users can scratch off the card, scan it, and load their SpaceXCoin ($SPXC) directly into their MetaMask or Trust wallet. This eliminates the need for signing up on a crypto exchange or dealing with debit card complexities, making $SPXC more accessible.

Wallet X: SpaceXcoin is set to deliver a cutting-edge wallet solution in Phase 4 of development. Wallet X will feature multi factor authentication for maximum user security. It will provide users with essential tools like token intelligence, portfolio tracking, and hype intelligence. Token intelligence offers insights into tokens through static analysis and honeypot analysis. Portfolio tracking allows users to monitor all their cryptocurrencies in one place, while hype intelligence helps users gauge the level of social media promotion for tokens they are interested in.

Blockchain X: A Hyperfast Blockchain Technology: Blockchain technology faces the challenge of balancing decentralization, scalability, and security. SpaceXcoin’s BlockchainX aims to tackle this challenge by implementing a “Proof of Stake” consensus, along with “Proof of History” methodology, similar to Solana. This approach optimizes hardware, network, and storage to achieve hyperfast transactions that are three times faster. BlockchainX will support various DeFi applications, including stable coins, Dapps, DEX, NFTs, wallets, and third-party vendor browsers.

SpaceXCoin NFT’s: SpaceXCoin created its official NFTs, confirming the uniqueness of digital assets related to space exploration. These NFTs will include images, music, and videos featuring rockets, spacecraft, Mars, galaxies, and planetary systems, enriching the SpaceXcoin ecosystem.

SpaceXChange: SpaceXChange is a unique cryptocurrency marketplace that allows users to buy, sell, and trade cryptocurrencies, including Bitcoin and Ethereum. It stands out by integrating advanced Artificial Intelligence (AI) to recognize user behavior and protect against scammers and hackers. SpaceXcoin developers are actively working on licensing, listing, and registration with federal agencies in the United States to make SpaceXChange a reality.

SpaceXMetaverse: The SpaceXMetaverse is a visually immersive world that will offer various activities, including exhibitions, auctions, concerts, and more. It will serve as a safe environment for crypto enthusiasts and beginners to interact, share knowledge, and conduct transactions. SpaceXMetaverse will integrate with social media giant Meta (formerly Facebook), allowing users to learn and share ideas about living on distant planets like Mars.

SpaceX Coin’s Space Goals

NASA has a mission to land humans on Mars by 2033, and SpaceX has plans for Martian colonization by 2026. SpaceXcoin is committed to supporting these endeavors and collaborating with related projects.

These include AI SpaceFactory’s Mars habitat design, Northrop Grumman’s efforts in Martian agriculture, Harvard University’s research on muscle atrophy prevention in space, and NASA’s exploration of human reproduction in space. SpaceXcoin aims to contribute to the success of these initiatives, furthering the goal of human habitation on Mars.

SpaceX Token: Price History

SpaceX Coin (SPXC) made its debut in the cryptocurrency market on 10 December 2022, with an initial listing price of $0.000000000382 per coin. Like many digital assets, its price has experienced fluctuations over the course of its short existence.

In its first month of trading, SpaceX Coin showcased its initial promise. It had climbed to $0.000000000712, signifying a positive start. However, towards the end of the year, it experienced a slight dip, closing at $0.00000000035. The price continued to decline in the second month and touched a dip of $0.00000000025. However, it steadily rose in value later, reaching $0.0000000007 in March. However, this momentum was short-lived as the price soon met a surge in selling pressure and tumbled at higher levels.

SpaceX Coin made its downward trajectory in the following months and touched a low of $0.00000000042 in April. With a minor upward volatility, SPXC coin declined further and touched $0.0000000002.

The coin has been declining for the past few weeks due to no community support and lack of hype. This has resulted in SPXC becoming a low-demanding project, influencing its price greatly.

SpaceX Token Price Prediction: Technical Analysis

Recently, the SPXC coin price experienced intense bearish sentiment in recent weeks, which has triggered sellers near the immediate resistance levels. The price has been on a steady downward trajectory over the last few weeks despite the overall market’s ‘Uptober’ trend revival and solid bull run. After declining below the $0.0000000004-mark, SpaceX coin price sparked an intense selling momentum and dropped below crucial Fib channels. The price has been facing intense selling pressure recently, and it managed to break below multiple support levels. A thorough technical analysis of the SpaceX token price reveals bearish signs in the coming hours. 

According to Coinmarketcap, the SpaceX coin price is currently trading at $0.0000000001979, reflecting an increase of 4.4% in the last 24 hours. Our technical evaluation of the SPXC price indicates that the current bearish momentum may soon intensify as bears are attempting to plunge the price from the upcoming support at $0.00000000018; however, bulls are trying to prevent the price from dropping significantly. Examining the daily price chart, SPXC coin price has found resistance near the $0.00000000024 level, to which the price is attempting to surge and gain its old momentum. As the SpaceX price continues to trade above the EMA20 trend line, buyers are gaining confidence to open further long positions and send the price to test its upcoming resistance. The Balance of Power (BoP) indicator is currently trading in a positive region zone at 1 as buyers are increasing their domination on the price chart.

If SPXC price makes a bullish reversal, it can pave the way to resistance at $0.00000000031. A breakout above will drive the coin’s price toward the upper limit of the Bollinger Band at $0.00000000038.

Conversely, if SPXC coin fails to hold above the critical support region of $0.00000000018, a sudden collapse may occur, resulting in further price declines and causing the coin’s price to trade near the Bollinger Band’s lower limit of $0.00000000016. If the price fails to continue a trade above, it may trigger a more significant bearish downtrend to $0.000000000097.

Risks Of Fake SpaceX Coin

In the crowded market, SpaceX Coin has emerged as a point of interest for both investors and space aficionados. The authenticity of this new digital currency is under scrutiny, leading to a more in-depth investigation into its background and credibility.

SpaceX, the trailblazing aerospace manufacturer and space transport provider established by Elon Musk, is renowned for its groundbreaking efforts to make space travel more affordable and its bold vision of colonizing Mars. The company’s reputation as a leader in technology and innovation has significant implications in both technology and finance sectors, which naturally extends to intrigue and speculation within the cryptocurrency domain.

After a thorough investigation, it has become clear that SpaceX Coin is not an officially sanctioned project of Elon Musk’s SpaceX. This has also been highlighted in the SPXC’s whitepaper. There have been no official announcements from SpaceX about entering the cryptocurrency market or launching its own digital currency. This situation presents the possibility of misleading advertising and potential scams exploiting the SpaceX name to lure in unsuspecting investors.

The market is frequently populated with unofficial tokens designed to leverage trending subjects or well-known brands for financial gain. Investors should be vigilant and undertake comprehensive research before investing in any digital assets that purport to be associated with prominent companies such as SpaceX.

Conclusion

SpaceX coin has experienced a period of inactivity, with its founding team not delivering any notable announcements or updates for several months. Consequently, this lack of progress has led investors to reduce their holdings of SPXC. Unlike other memecoins, which often see their values driven by speculative holding without inherent utility, SpaceX coin is designed with a unique vision.

It aspires to be the cryptocurrency of choice for space-related transactions, facilitating connections between planets and humanity. Despite the current challenges, SPXC holds significant potential for the future, provided that it can introduce substantial improvements and advancements.

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