The dogefather, Elon Musk, has raised speculations regarding the X payments, which cause DOGEcoin rise. Musk posted in his X account last Friday, and this was the main cause as to why DOGEcoin has skyrocketed. 

Key-Takeaways:

• Musk’s ‘$’ post provoked X Payment speculations and rumours, which caused DOGEcoin’s price surge
• DOGECoin rise is brought on by the new feature on Musk’s website, ‘X’, which is X payments.

X Payments Rumors Intensifies

Last Friday, November 22, 2024, Joe Rogan’s profile was posted along with a dollar sign next to it. It was posted by the one and only dogefather, Elon Musk. After his post was seen by many, rumors led one after another to speculate that X Payments will be launching soon on X.

X Payments will become a new feature in X, wherein user’s are allowed to exchange transactions using crypto.

Elon Musk posted a screenshot of Joe Rogan’s profile. The speculations have become more clear after Musk answered “Yes” after he was asked what the symbol on his post on X meant.

Have to say that @joerogan’s profile description is awesome 😂 pic.twitter.com/6Z8hUAQIBj

— Elon Musk (@elonmusk) November 22, 2024

However, Nima Owji, an independent researcher, has raised the suggestion that the dollar sign on Musk’s post might be indicating a user-to-user transaction that will soon launch on X. 

DOGECoin Price Boosted 2.3%

DOGECoin has risen about 2.3% after Elon Musk’s post on X last Friday. As a result of this movement, DOGE’s price rose by 2.3% in the past 24 hours, as stated by CoinGecko data. 

DOGE reached $0.48, its highest value in more than a week. On October 20, 2024, DOGEcoin’s rise was about 227%, and they have gained a total of 87% over the last week of November. The token has been rising over the past months, as well as its trading highest level since May 2021.

Musk Sparks DOGECoin Hope

Musk’s comments, together with the feature of DOGECoin in X Payments, have gathered spark within the Dogecoin community and have given crypto enthusiasts hope for the app’s future development.

Musk has also revealed his plans that he will be transforming X into an “everything app,” to which payments between users will be on the app. Additionally, crypto enthusiasts speculated that this might include transactions with some other cryptocurrency platforms, such as DOGE. 

However, Musk is truly persistent with DOGE; his plans for X may come true in the near future. There has been visible development in his electric car company, Tesla. There is no doubt he has started accepting DOGE payments for some merchandise purchases in its online store.

These innovative developments can add to the fact that DOGECoin will be playing a significant role in the future of payment systems in X. The dogefather’s involvement might affect the continuation of DOGEcoin rise.

Conclusion: DOGECoin Rises with Elon Musk

DOGEcoin rise within the cryptocurrency landscape has not only greatly impacted the market but also Musk’s plans in the future for Tesla and X. Crypto analysts and enthusiasts are awaiting the possible development within X involving crypto payments within, making it a more accessible so-called “everything app.” What are your thoughts? Let us know in the comments.