SpaceX shares have undergone a historic market correction.RSPCXUSDT SPOTBITGET:RSPCXUSDTduydaocoinThe excitement surrounding SpaceX quickly gave way to intense disillusionment. Within just a few weeks, SpaceX stock—following what had been the largest IPO in history—underwent a correction that wiped out hundreds of billions of dollars in value. SpaceX stock (SPCX) dropped to nearly $110.99, trading around the $111 mark before stabilizing above $112. This price level reflects a sharp 18% decline from the initial IPO price of $135. This rapid decline has been accelerated by several factors: + Short-selling attacks: According to Ortex Technologies, short positions generated approximately $15.5 billion in paper profits during this downturn. + Intense pressure regarding stock borrowing: nearly 360 million shares—representing about 56% of the total tradable float—have been lent out to short sellers. + Investor skepticism regarding the valuation, which stands at nearly 40 times estimated 2026 revenue. Trading Outlook: + Immediate support: The $110–$112 range—a newly established historical low—serves as the most critical psychological and technical floor in the short term. A breach of this zone risks a deeper price decline. + Immediate resistance: The $135 level, acting as both a psychological threshold and the original IPO price, followed by short-term moving averages (MA) in the $137–$148 range. The price needs to close above these levels to confirm a new upward trend. Despite the decline in SpaceX shares, the multi-trillion-dollar market potential—spanning space services, connectivity infrastructure, and AI cloud computing projects—presents an opportunity to accumulate stock at prices lower than the initial IPO level ($135). With rTokens on Bitget, investors can purchase rSPCX shares on any day of the week; a spot rToken order placed on Bitget is routed through a licensed broker directly to the NASDAQ and NYSE order books. The execution mechanism mirrors that of traditional stock trading, all managed through a single Bitget account.