The speculations over Elon Musk’s X payment launch have soared recently, with several renowned figures and influencers have put their bets on it. Amid this, the investors’ hope for a potential DOGE rally has also been intensified, as evidenced by the recent comments from the experts. Also, Musk’s tie to the meme coin sector and his prior backing for Dogecoin have further sparked optimism.
Elon Musk’s X Payment Launch Speculations Fuels Crypto Hope
The speculations over Elon Musk’s X payment launch soared as the tech mogul is gearing up to transform X into an “everything app.” According to a Forbes report, recent leaks suggest X Money, the platform’s payment system, could launch imminently without securing full regulatory approval in all US states. According to an X influencer Alex Finn, the newly released platform code hints at a rapid rollout.
Linda Yaccarino, X’s CEO, recently confirmed plans to introduce X Money by 2025. The payment system aims to integrate features like cryptocurrency support, mirroring China’s WeChat. While there is no official confirmation yet, speculation abounds that Bitcoin, Dogecoin, and stablecoins like Tether’s USDT may play pivotal roles.
Meanwhile, another X influencer Aaron, a contributor at MacRumors, also highlighted the development. In a recent social media post, he hinted towards a potential “X Money” launch “in the US before getting approval in all 50 states. Simultaneously, Jaime Rogozinski, founder of WallStreetBets, believes Musk is preparing to disrupt the digital currency landscape, calling it a “secret plan for stability.”
Notably, these developments have also fueled a potential Dogecoin integration to X payments. In other words, a flurry of investors is anticipating that Elon Musk’s X payment will allow DOGE to be an option for investors. It has also fueled hopes over a potential rally in the top meme coin ahead.
DOGE Eyes Rally Amid Musk’s Backing
The launch of Elon Musk’s X payment could pave a bullish way ahead for Dogecoin. For context, popular market expert Ali Martinez has recently fueled the speculation with his recent statement on the development. Commenting on the WallStreetBets founder’s post, Martinez said “It smells like DOGE in here”, highlighting Musk’s known affiliation with the token.
Simultaneously, Musk has recently shared a cryptic post, which has also fueled speculations towards a Dogecoin Reserve in the US. Additionally, the speculations were further fueled by Donald Trump’s newly formed Department of Government Efficiency (D.O.G.E.). The acronym of the department, led by Musk and Vivek Ramaswamy, resembles the Dogecoin ticker, which has also sparked heavy discussions in the broader crypto market.
On the other hand, the Tesla CEO’s tie with the crypto department has also gained notable traction lately. Recently, the tech mogul has changed his social media name to Kekius Maximus, which has fueled a massive rally in the meme coin’s price.
However, despite these developments, DOGE price today was down about 0.7% to $0.3833. The token has touched a 24-hour high of $0.3909 while adding about 20% to its price over the last seven days. Further, DOGE Futures Open Interest has also been noted over the past few days, indicating growing optimism of the investors towards the crypto.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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