Dogecoin (DOGE-USD) saw a 5% increase after fresh speculations emerged surrounding Elon Musk‘s long-awaited X Payments service. The excitement was sparked when Musk posted a screenshot of Joe Rogan’s X profile, which featured a dollar icon different from the platform’s usual tipping system. A user quickly pointed out that this could be a sign of a new money transfer feature, prompting Musk to respond with a simple “true.”
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Musk’s Ongoing Influence on Dogecoin
This isn’t the first time Musk has influenced Dogecoin’s price. The memecoin has long reacted to Musk’s comments, especially those related to his ventures like X (formerly Twitter). Musk has often expressed his intention to transform X into an “everything app,” which could include payments between users. X Payments LLC has already acquired money transmitting licenses in most U.S. states, though New York remains an exception.
According to CoinDesk, crypto enthusiasts are now speculating that Dogecoin could be integrated into X Payments once it’s up and running. After all, Musk’s electric car company, Tesla (TSLA), already accepts DOGE payments for merchandise, making it plausible that the token could be used for transactions on X. With Dogecoin up 190% over the past month, it seems that Musk’s influence continues to drive excitement in the market.
At the time of writing, Dogecoin is sitting at $0.3996, up 275% over the past 3 months.
