March 27, 2024
Dogecoin Surges 'XPayments' Gains 100K Followers
Latest Cryptocurrency News

Dogecoin Surges: ‘XPayments’ Gains 100K Followers

Dogecoin (DOGE), the popular dog-themed memecoin, experienced a surge, reaching a weekly high at $0.08978 on January 21. This rise, representing a 12.8% increase within a nine-hour window from late January 20, followed the establishment of the “XPayments” account on X (formerly Twitter), which quickly amassed over 100,000 followers. However, the current value of DOGE has slightly receded, showing a 4% decline in the past day and trading at $0.08330, as reported by Markets Pro.

The excitement surrounding DOGE’s surge is linked to speculation about its potential integration into X’s payment functions. Although the XPayments account has not made any posts, traders have drawn connections to Elon Musk’s occasional mentions of DOGE. Musk, the owner of X, has previously allowed DOGE payments in Tesla’s merchandise store and changed Twitter’s logo to Dogecoin’s in April 2023, causing a notable 22% spike in DOGE’s price.

X users have long hoped for Musk to integrate DOGE into the platform, fueled by Musk’s cryptic X posts and bio updates. In December 2023, Musk mentioned the expectation of launching payments on X by mid-2024. Notably, in 2023, the company applied for money transmitter licenses in several U.S. states, signaling a strategic move towards expanding its financial services offerings. The dynamic relationship between Elon Musk, X, and DOGE continues to captivate the crypto community, adding further intrigue to the potential integration of DOGE into the X platform’s payment ecosystem.

Photo by Rūdolfs Klintsons

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