DOGE Rally Continues After Musk Hints at X Payments Feature

DOGE Rally Continues as Musk Teases X Payments Capability

Following new rumors about Elon Musk‘s social app X’s long-awaited payments capability, popular memecoin Dogecoin (DOGE) surged 5%, hitting multi-year highs earlier this month. Musk reportedly posted a screenshot of podcaster Joe Rogan’s X profile, which prompted the action.

One user commented in an X post that the post featured a dollar emblem that is distinct from the app’s tipping mechanism, speculating that it might be for money transfers as part of X Payments. Musk’s response to the post was “true.”

Musk’s DOGE Affinity Drives Speculation Around X Payments’ Crypto Future

News about payments at any Elon Musk-owned businesses, notably X, formerly known as Twitter, has historically caused Dogecoin‘s price to fluctuate. Musk had previously hinted at his intention to transform the social media platform into an everything app, which would include user payments. Except for New York, X Payments LLC has money-transmitting permits in the majority of the states in the United States.

Since Musk has always had a fondness for DOGE, several cryptocurrency fans speculate that when the service goes online, it may involve transactions with some digital assets. For certain items purchased in its online store, DOGE payments are already accepted by Musk’s electric vehicle company, Tesla.

For more up-to-date crypto news, you can follow Crypto Data Space.