A weekly high of US$0.09 was reached by Dogecoin, thanks to conjecture surrounding X Payments.
Before Doge coin's value increase over the weekend, tech tycoon Elon Musk's social media site X (previously Twitter) announced X Payments, the anticipated payment feature. The account was activated with a gold verification badge.
With a market valuation of over US$660 billion, Musk is the CEO of Tesla, one of the biggest companies in the world. He has regularly expressed his appreciation for the meme-inspired cryptocurrency through his tweets, which has driven up the price of Dogecoin.
Musk's affection for meme coins has sparked rumours that X Payments would take Dogecoin, allowing it to go from being a specialised online currency to a more generally used form of payment.