Musk's X Payment Feature: Dogecoin Integration?
Dogecoin has gained 2.45% in the previous 24 hours, helping meme coins rise 5.30%. The currency has gained popularity due to rumors that X may accept DOGE as payment.
This renewed gain helps Dogecoin recover from its 21.26% drop since last Wednesday, which mirrored market patterns among other cryptocurrencies.
Dogecoin has lost 8.77% in the last month due to such events.
As trader activity decreases, trading volume fell 53.56% to 975.11 million in 24 hours, calming recent volatility.
Traders Think Dogecoin Payments Could Reach X
Dogecoin incorporation with X's payments functionality is anticipated, thus this stability.
X owner Elon Musk said last year that X will become a âeverything app,â with the payment function as a crucial component.
Swak, an X user who leaks program functionality, disclosed that X is developing payments.
Dogecoin is not mentioned in the X payments development code. The URL /i/payments/verify-payment-method indicates numerous payment methods.
Dogecoin investors are speculating about DOGE integration due to Musk's apparent support for DOGE.
Musk reportedly said he had a âsoft spot for Dogecoin because I like dogs and memes.â
He also said he doesn't like Bitcoin or other cryptocurrencies, indicating Dogecoin may be the lone crypto in the payment system.
However, X payments are unlikely to launch soon. The social networking site has money-transmitting permits in 35 jurisdictions, including North Dakota.
The platform needs 15 more state licenses to offer the payment option worldwide, and it's unknown how soon they'll be obtained.
Does X Doge Integration Affect Dogecoin Price?
After this big news, the Dogecoin price chart implies it has been influenced.
Technical study of Dogecoin pricing. Source: Binance.
Most importantly, Dogecoin's relative strength index has remained above 50 since the first X post. This is neutral as Dogecoin stabilizes and leans bullish.
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