The value of Dogecoin (DOGE) has unexpectedly increased, rising by almost 14% in just 12 hours. The coin, which gained popularity from memes, surged from $0.079 to $0.091, creating a lot of discussion in the cryptocurrency community.
The mysterious Elon Musk and his audacious initiative, Xpayments, seem to be the driving forces behind this phenomenal increase. The well-known businessman, known for his affinity for cryptocurrencies, especially DOGE and Bitcoin (BTC), has been creating a stir with his intentions to turn X into a super programme that offers a wide range of services, including financial services.
Notably, X, formerly connected to Twitter, made a significant entry into the banking industry by formally launching its Xpayments account. Musk’s purchase of licences for money operations in several U.S. states is evidence of his dedication to this endeavour. Peer-to-peer payments are reportedly being planned by X, and Musk has hinted that they would be available to the general public by the middle of 2024.
Dogecoin to X?
Even though Musk has made it clear that his firms do not plan to issue their own tokens, the price of DOGE has increased in tandem with the release of updates to Xpayments’ social media website. This has sparked conjecture in the cryptocurrency world over a possible partnership or integration between Dogecoin and X, which has been intensified by Musk’s well-known fondness for both DOGE and BTC.
It is unclear as of yet, though, if Dogecoin and X are about to enter into a big cooperation or if this is just the market’s response to Musk’s influence.
