SpaceX Plush Toy Sparks 137% Rally in Ethereum Meme Coin

A stuffed dog mascot from SpaceX has unexpectedly triggered a massive price surge in a niche cryptocurrency, demonstrating once again the unpredictable nature of meme coin markets.

Asteroid Shiba, an Ethereum-based token inspired by a Shiba Inu plush toy featured in SpaceX’s Polaris Dawn mission, has rocketed more than 137% in the past seven days. The token’s market capitalization temporarily added approximately $50 million following increased visibility of the “Asteroid” plush on SpaceX’s official merchandise store.

Meme Coin Mania Meets Space Exploration

The connection between Elon Musk’s aerospace ventures and cryptocurrency markets continues to produce volatile trading opportunities. While Musk has historically influenced crypto prices through social media posts, this latest surge stems from merchandise rather than tweets. The Shiba Inu breed has become synonymous with meme coins since Dogecoin’s rise, making any space-themed variation particularly attractive to speculative traders.

According to market data from CoinGecko, the token experienced sharp price movements as traders rushed to capitalize on the SpaceX connection. The Polaris Dawn mission, which successfully completed a private spacewalk earlier this year, featured the Shiba plush as an unofficial mascot—a detail that meme coin developers quickly monetized.

High Risk in Parody Tokens

Industry observers warn that such parody tokens carry extreme volatility and risk. Unlike established cryptocurrencies with clear utility or governance structures, meme coins typically derive value purely from community hype and social media momentum. Traders who missed the initial surge often face significant losses as these tokens can collapse as quickly as they rally. The Ethereum network’s relatively high transaction fees also mean that small investors may find profits eaten by gas costs during rapid trading.

Based on reporting by the original source.