In the stock market, it's often used to mean 'to the moon' (a huge price surge) when a stock's price explodes. It's also used when a K-pop idol's popularity skyrockets or to announce that a new project has launched successfully.

This emoji can also signify achieving personal goals or an explosion of potential. You can use it like "My skills are taking off like a rocket!" when your test scores jump or your athletic ability improves dramatically. It's used with the phrase "To the moon!" as a message of support, wishing for great success in something, all around the world.