Dogecoin (DOGE) is becoming the center of attention as its price surged on Friday, reaching its highest level in over a week, amid speculation that Elon Musk would integrate a payment feature into social network X (formerly #Twitter ). Dogecoin fans hope Musk will build this system on his favorite cryptocurrency.
Clues From Elon Musk
On Friday morning, Elon #Musk – CEO of Tesla and the richest person in the world – posted a screenshot of Joe Rogan's profile, a famous podcaster. What caught attention was the “$” symbol appearing next to Rogan's avatar, which sparked speculation about a payment feature soon to be launched on the X platform.
When a user on X questioned the unusual symbol, Musk simply replied: “Yes.” This led many to believe that the payment feature on X – called X Payments – is about to be announced. An independent application researcher, Nima Owji, speculated that this “$” button could be used to transfer money between users.
Dogecoin Market Reaction
Thanks to the aforementioned speculation, Dogecoin's price has risen 4% in the past 24 hours, reaching $0.40 according to data from CoinGecko. Earlier, DOGE's price soared to $0.41, marking its highest level in over a week. In just one month, Dogecoin's price has increased by 189%, and in the past week, this currency has risen an additional 87%.
Dogecoin, created in 2013 as a joke from the Shiba Inu meme, was originally a satire on the overwhelming emergence of altcoins after Bitcoin. However, since 2020, Dogecoin has become a phenomenon as Elon Musk posted a series of memes related to this currency on social media, causing its value to skyrocket.
Integration Expectations of Dogecoin on X
Before acquiring Twitter (now X) in 2022, Elon Musk hinted at the intention to integrate $DOGE so that users could pay for premium services on the platform. However, documents revealed earlier this year show that the payment feature on X initially did not include cryptocurrency, at least in the early stages.
However, Musk's recent comments have reignited hope for the Dogecoin community, especially as he prepares to take on a role in the new administration of President-elect Donald Trump at an agency humorously called the Department of Governmental Efficiency (D.O.G.E.). This further reinforces the belief that Dogecoin may play an important role in the future of payment services on the X platform.
The Future of Dogecoin
Dogecoin once reached an all-time high of $0.73 in 2021 before plummeting. However, with renewed interest from Elon Musk and the potential integration of Dogecoin into X Payments, this currency is showing impressive recovery.
The faith of the Dogecoin community is rising, especially as Musk continues to be the unofficial patron of this currency. If the payment feature on X is indeed implemented, Dogecoin could enter a completely new era of growth.
