Dogecoin (DOGE) surged 5%, revisiting the multi-year highs it touched earlier this month. The rally follows speculation about Elon Musk’s social platform X (formerly Twitter) and its long-awaited payment integration.
The buzz started after Musk posted a screenshot of podcaster Joe Rogan’s X. profilewhich featured a prominent dollar icon. Observers on X have speculated that the icon could indicate a new payment feature, separate from the platform’s existing tipping service. Musk’s cryptic “real” response to one of these messages only fueled further speculation.
Source: X
The price of Dogecoin has long been sensitive to Musk’s thoughts, especially when linked to payments from his companies. Musk has often alluded to transforming X into an “all-purpose app,” with user-to-user payments as a core feature. X Payments LLC has already obtained money transfer licenses in most US states except New York.
Crypto enthusiasts believe this payment system could integrate digital assets, with DOGE a likely candidate due to Musk’s well-documented affinity for memecoin. Tesla, Musk’s electric vehicle company, already accepts DOGE for some merchandise purchases.
DOGE has outperformed Bitcoin (BTC), gaining 5.4% over the past 24 hours compared to BTC’s stable performance. Over the past month, Dogecoin has soared 190%, reaching its highest price since May 2021.
Source: Commercial View
As Musk continues to tease innovations on X, Dogecoin remains at the center of the action, reflecting its enduring appeal as the billionaire’s favorite token.