Breaking news: Musk is about to release a cryptocurrency version of 'WeChat Pay'!
Musk's long-prepared cryptocurrency payment system X Pay is about to launch! It is reported that X Payments accounts were registered in January 2024, and the X platform recently updated relevant code. Musk responded that X Payments could be released at any time.
X's CEO Linda Yaccarino also revealed that in 2025, X will connect X TV/X Money with the AI model Grok, focusing on video, payments, and AI, a strategy similar to WeChat.
Musk has repeatedly stated that X will use cryptocurrency to facilitate global payments. Although compliance for payment operations in the U.S. is complex, X has currently obtained payment licenses in 39 states, and it is expected that X Money may be launched ahead of full licensing across the U.S. Musk's strong influence has led many to speculate that he may take this opportunity to push for a reduction in payment license thresholds.
Previously, Musk supported Bitcoin payments for Tesla, although it was paused due to environmental concerns. However, as the proportion of renewable energy in Bitcoin mining has increased to 56.7%, and U.S. policies tend to support cryptocurrency, this is undoubtedly the best time to launch cryptocurrency payments!
Musk's double-edged influence: The rollercoaster journey of KEKIUS coin
The Ethereum meme coin Kekius Maximus (KEKIUS) has experienced dramatic ups and downs due to a series of developments from Tesla CEO Elon Musk.
On the eve of New Year's Day, Musk changed Twitter's name to Kekius Maximus, sparking a market frenzy. In just 30 hours, the market value of KEKIUS skyrocketed from 12.7 million dollars to nearly 400 million dollars, an increase of over 3000%. However, when Musk restored his profile, the token plummeted 67% within an hour, bringing its market value down to 95 million dollars.
KEKIUS is referred to as 'Frog Emperor Pepe,' inspired by the popular Pepe internet meme, created using Twitter's AI tool Grok. Musk expressed support for this meme, making it quickly popular. By December 27, the market value of the coin had reached 1.7 million dollars. Subsequently, Musk named his character Kekius Maximus in the game Path of Exile, further boosting its market value to 20 million dollars. Finally, on New Year's Eve, he changed his profile to a meme generated by Grok, and the market value of KEKIUS nearly reached 400 million dollars.
However, this craze did not last. At the beginning of the new year, news of the Tesla Cybertruck explosion in Las Vegas made headlines, and Musk restored his original Twitter persona. Although it was later proven that the explosion was caused by fireworks or explosives inside the vehicle, unrelated to the vehicle itself, market panic led to KEKIUS plummeting 83% within 10 hours.
Since this event, Musk has not mentioned Kekius Maximus again, instead shifting his focus to British politics. He called for the release of far-right activist Tommy Robinson and supported the UK Reform Party. This sparked the birth of a series of meme coins, including the TOMMY token, which reached a market value of 4.8 million dollars.
Musk's personal actions have a profound impact on the meme coin market, but they are also filled with uncertainty. The wild fluctuations of KEKIUS demonstrate the high-risk characteristics of the meme coin market, and investors need to carefully assess the influences of market dynamics and public opinion changes.
Musk's recent change of profile picture and name has brought Dogecoin (DOGE) back into the spotlight. Coupled with the abbreviation of the Trump administration related to DOGE, it is expected that Dogecoin may become a speculative hotspot. Based on the EMA line of DOGE prices, a golden cross may be imminent, which is a bullish signal, as the short-term EMA is about to cross the long-term EMA, indicating the continuation of an upward trend, possibly pushing DOGE to test the resistance level of 0.36 dollars.
If it breaks this resistance, DOGE may further challenge higher levels of 0.387 dollars and 0.415 dollars, representing an upside potential of about 22.7%. Conversely, if upward momentum is lost, DOGE may retrace to the support level of 0.30 dollars, and breaking this support could lead to a drop to 0.26 dollars.
To maintain the upward momentum, a golden cross must form, and buyers need to push the price above key resistance levels.
That's it for today's article. We are currently in a bull market, with changes brewing, and we share a password every day. If you don't know what to do in a bull market, feel free to follow, share strategies for bull market spot trading at no cost. Let's embrace the bull market, increase our winning rate, and say goodbye to being trapped at high positions.
