Dogecoin (DOGE-USD) Sees 5% Increase After Fresh Speculations Emerge Surrounding Elon Musk’s Long-Awaited X Payments Service

This isn't the first time Musk has influenced Dogecoin's price. The memecoin has long reacted to Musk's comments, especially those related to his ventures like X (formerly Twitter).

Dogecoin (CRYPTO: DOGE) price rose 5% in the past 24 hours after fresh speculation emerged regarding Elon Musk‘s long-awaited X Payments service.

What Happened: The excitement was palpable after Musk posted a screenshot of Joe Rogan’s X profile, which featured a dollar icon different from the platform’s usual fiat tipping system.

A user quickly pointed out that this could be a sign of a new money transfer feature, prompting Musk to respond with a simple “true.”

Musk’s X Profile Shows Money Icon, Sparks Speculation About Payments Feature

This isn’t the first time Musk has influenced Dogecoin’s price. The memecoin has reacted to the Tesla CEO’s comments, especially those related to his ventures like X (formerly Twitter).

Musk has often expressed his intention to transform X into an “everything app,” which could include payments between users. X Payments LLC has already acquired money transmitting licenses in most U.S. states, although New York remains an exception.

Crypto enthusiasts are now speculating that Dogecoin could be integrated into X Payments once it’s up and running, according to CoinDesk.

After all, Musk’s electric car company, Tesla, already accepts DOGE payments for merchandise, making it plausible that the token could be used for transactions on X.

With Dogecoin up 190% over the past month, it seems that Musk’s influence continues to drive excitement in the market.

At the time of writing, Dogecoin is trading at $0.3996, up 275% over the past 3 months.

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