Dogecoin Rises 9%: Is X’s Dedicated Payment Page Fueling the Surge? 🔥
According to Foresight News, the price of DOGE has increased by more than 13% in the past 24 hours, reaching $0.089 USDT. This surge is possibly due to the launch of the 'Payments' X account by X (formerly Twitter).
Dogecoin’s Price Momentum
The value of Dogecoin, a popular memecoin, soared to $0.08432, marking a striking 9% increase. This rally began with a swift 5% rise, notable in the cryptocurrency market. Before the surge, Dogecoin was trading around $0.79. The trading volume for DOGE also climbed, showing an 18.62% hike to reach $424.55 million. Over the last week, Dogecoin has recorded an overall growth of 4.29%, drawing the attention of investors and market analysts.
The Link to X’s Payment Initiative
The rise in Dogecoin’s value appears closely tied to recent developments by Elon Musk’s company X. Introducing the “Payments” account is a major step in X’s strategy to innovate in the financial technology sector. This initiative aims to simplify and enhance the efficiency of digital transactions, focusing on user-friendly and secure payment solutions.
While specific details about integrating cryptocurrencies in X’s “Payments” account have not yet been disclosed, the timing of Dogecoin’s price surge following this announcement has led to speculation among investors and analysts. The connection is further strengthened by Musk’s history of endorsing Dogecoin over more established cryptocurrencies like Bitcoin. His influence in the crypto space and his role as the owner of X have fueled expectations that Dogecoin might play a role in this new payment system.
$DOGE #sol
