Discussions concerning Dogecoin transactions on the X platform have resurfaced due to recent advancements. One of these advancements is a newly leaked code hinting at an upcoming launch of X payments.
Dogecoin Payments Rumors On The Rise Amid Imminent X Money Launch
Discussions surrounding Dogecoin transactions on platform X are gaining traction, fueled by the upcoming launch of their currency. In a recent post on X, tech enthusiast Aaron hinted at a code indicating that X is planning to introduce their money in the U.S., before securing approval in all 50 states. Notably, the social media platform has already received payment transmitter licenses in 38 states.
American businessperson Alex Finn previously stated that X is planning to unveil its payment system without obtaining approval from all 50 states. This was confirmed by X’s CEO Linda Yaccarino, who announced that ‘X Money’ will debut this year. With the launch of X Money approaching, there has been renewed speculation within the cryptocurrency sphere about whether X could potentially incorporate Dogecoin transactions in the future.
Given Elon Musk’s fondness and backing for Dogecoin, it’s plausible that this digital currency could be incorporated into his ‘Everything app’, which is soon to launch X Money service. As the world’s wealthiest individual, he has the leverage to advocate for Dogecoin integration within the payment platform, as the manipulation case against him was dismissed last year.
Elon Musk has elevated his backing for DOGE even further by suggesting a potential U.S. agency (Department of Government Efficiency) should bear the same name as the meme coin’s abbreviation, DOGE. Consequently, it would not come as a surprise if Dogecoin transactions became an option on X, given Musk’s reputation as the world’s wealthiest individual.
As a crypto enthusiast, I’m not taking a stance against Elon Musk integrating Dogecoin payments with his X Money platform. In fact, I believe that such integration could potentially boost the momentum of Dogecoin, the leading meme coin, even further.
DOGE Entering Bullish Territory Again?
In light of whispers about Dogecoin transactions, it appears that DOGE might be gearing up for another bullish phase. As KrissPax pointed out, on a monthly scale, the meme currency has been climbing recently, forming a bullish engulfing green candle.
In simpler terms, the expert noted that the recent fluctuations in Dogecoin’s price are similar to what occurred in May 2024. During this time, Dogecoin was rising (green) but failed to surpass the peak of the red candle from April, resulting in a subsequent drop in its price.
The crypto expert additionally pointed out that Dogecoin has seen a roughly 25% increase so far in January. He further stated that should Dogecoin manage to surpass the $0.422 mark to conclude this month, it might trigger even greater price growth in February.
Currently, as I’m typing this, the value of Dogecoin stands approximately at $0.39. It has increased by more than 2% during the past 24 hours, based on information from CoinMarketCap.
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2025-01-07 19:41