Dogecoin Rises on Speculation of X Payments Integration

Dogecoin surged to a one-week high Friday amid speculation that Elon Musk may soon introduce payment features to X, formerly known as Twitter.

The price of Dogecoin is up 4% in the past 24 hours, currently sitting at $0.46, according to CoinGecko. It briefly touched $0.41, its highest level in over a week. Over the past month, Dogecoin has climbed 189%, fueled by Musk’s recent comments and Bitcoin’s rally to new all-time highs.

The Mysterious “$” Widget

The speculation was triggered by a screenshot Musk shared early Friday of podcaster Joe Rogan’s profile on X. A dollar sign icon was visible next to Rogan’s profile picture—a feature that is currently unavailable to general users.

Responding to a user who pointed out the unusual widget, Musk simply replied, “True.”

Independent app researcher Nima Owji speculated on X:

“My speculation is that the ‘$’ button is used for sending money to someone as a part of X Payments.”

https://twitter.com/nima_owji/status/1860001959123779897

Dogecoin’s Connection to Musk

Dogecoin, originally created as a joke in 2013, gained widespread attention when Musk started promoting it in 2020 through memes and tweets. His enthusiasm transformed the coin into a widely recognized digital asset, propelling it to an all-time high of $0.73 in 2021 before it experienced a significant decline.

The coin is now on a resurgence, driven by renewed optimism surrounding Musk and his potential plans to integrate Dogecoin into X’s payment ecosystem.

Payments and the Future of X

Musk has frequently discussed integrating payment systems into X, hinting at a vision where users could seamlessly transfer funds across the platform.

Before acquiring Twitter in 2022, Musk floated the idea of using Dogecoin for premium subscriptions. While documents from earlier this year indicated that payments were in development, they did not initially include cryptocurrencies.

With Musk now set to take on a new role in President-elect Donald Trump’s administration, heading the Department of Governmental Efficiency (D.O.G.E.), speculation about Dogecoin’s integration into X has reignited.

Dogecoin’s Phenomenal Rally

The seventh-largest cryptocurrency by market capitalization, Dogecoin, has surged by 87% in the past week and is trading near its three-year peak of $0.43, which it briefly hit last week.

Analysts attribute this momentum to Musk’s continued influence on the market, alongside a broader rally in cryptocurrencies fueled by Bitcoin’s record-breaking performance.

Looking Ahead

While details about the “$” widget remain sparse, the crypto community’s excitement over Musk’s plans for X Payments is palpable. If Dogecoin becomes a part of the platform’s payment system, it could further cement its place as more than just a meme coin.

For now, Dogecoin holders are keeping a close eye on developments from X and Musk’s next moves.