Due to speculation about Elon Musk’s X payment launch, experts expect Dogecoin (DOGE) to rally soon.
Recently, there has been a significant increase in speculation regarding the launch of Elon Musk’s X payment system, as numerous influential figures and figures have placed their bets on it. Amidst this, the recent comments from the experts have also bolstered the investors’ hope for a potential DOGE rally. Additionally, Musk’s prior support for Dogecoin and his affiliation with the meme coin sector have served to bolster optimism.
Elon Musk’s X Payment Launch Speculations Provide Fuel for Crypto Hope
Elon Musk is preparing to transform X into an “everything app,” which has sparked speculation regarding the launch of his X payment system. According to a Forbes report, recent leaks indicate that X Money, the platform’s payment system, may be launched without obtaining full regulatory approval in all US states. Alex Finn, an X influencer, has suggested that the recently released platform code suggests a rapid rollout.
Linda Yaccarino, the CEO of X, has recently confirmed that the company intends to introduce X Money by 2025. The payment system is designed to incorporate features like cryptocurrency support, similar to WeChat in China. Although there is no official confirmation, there is widespread speculation that Bitcoin, Dogecoin, and stablecoins such as Tether’s USDT may play significant roles.
Aaron, a contributor at MacRumors and another X influencer, also emphasized the development. In a recent social media post, he suggested that “X Money” could be launched in the United States before it is approved in all 50 states. Simultaneously, Jaime Rogozinski, the founder of WallStreetBets, thinks that Musk is preparing to disrupt the digital currency landscape, referring to it as a “secret plan for stability.”
Notably, these advancements have also given rise to the possibility of integrating Dogecoin with X payments. In other words, many investors anticipate that Elon Musk’s X payment will enable DOGE to be a viable option for investors. It has also sparked optimism regarding the potential for a future rally in the top meme coin.
DOGE Considers a Rally in Light of Musk’s Support
Introducing Elon Musk’s X payment system may establish a positive trajectory for Dogecoin. To provide context, Ali Martinez, a well-known market expert, has recently contributed to the speculation regarding the development. Martinez commented on the WallStreetBets founder’s post, stating, “It smells like DOGE in here,” emphasizing Musk’s acknowledged association with the token.
Simultaneously, Musk recently shared a cryptic post that fueled speculation regarding establishing a Dogecoin Reserve in the United States. Furthermore, the Department of Government Efficiency (D.O.G.E.), newly established by Donald Trump, served as an additional source of speculation. The department’s acronym, which Musk and Vivek Ramaswamy lead, resembles the Dogecoin ticker, which has also sparked significant debates in the more general crypto market.
Conversely, Tesla’s CEO’s association with the crypto department has recently gained significant momentum. The meme coin’s price has experienced a substantial increase due to the tech mogul’s recent change in social media name to Kekius Maximus.
Nevertheless, despite these developments, the price of DOGE fell by approximately 0.7% to $0.3833 today. The token’s price has increased by approximately 20% over the past seven days, reaching a 24-hour high of $0.3909. Furthermore, the DOGE Futures Open Interest has been observed in the past few days, suggesting that investors are becoming increasingly optimistic about the crypto coin.
