The popular memecoin jumps 5% after hints of a new payment service surface on Musk-owned X.

DOGE Reacts to Musk’s Tweet

Dogecoin (DOGE) gained 5% in value following renewed speculation about X, Elon Musk’s social media platform, introducing a long-anticipated payments service. The surge came after Musk posted a screenshot of podcaster Joe Rogan’s X profile, which showed a dollar icon. A user speculated in an X post that the icon might signal a money-sending feature as part of X Payments. Musk replied to the post with a simple confirmation: “true.”

This isn’t the first time Dogecoin has reacted to Musk’s comments. The token has a history of price movements tied to any payments-related updates or announcements from his companies, including Tesla and X, formerly known as Twitter.

Musk’s Vision for an ‘Everything App’
Musk has long floated the idea of transforming X into an “everything app,” encompassing features like user-to-user payments. X Payments LLC has already secured money-transmitting licenses in most U.S. states, except New York. The latest hints have reignited speculation that the payment service might integrate cryptocurrencies like Dogecoin, given Musk’s known fondness for the token.

Tesla, Musk’s electric car company, currently accepts Dogecoin as a payment method for select merchandise in its online store, fuelling further speculation about DOGE’s potential inclusion in X’s payment ecosystem.

Dogecoin’s Performance Outpaces Bitcoin
In the last 24 hours, Dogecoin’s price has risen by 5.4%, significantly outperforming Bitcoin (BTC), which has remained largely flat. The memecoin is up a staggering 190% over the past month, now trading at its highest levels since May 2021.

What’s Next for DOGE?
While details about X Payments remain speculative, the possibility of Dogecoin’s inclusion continues to excite crypto enthusiasts. Musk’s cryptic confirmation has once again placed the token in the spotlight, with investors eagerly awaiting concrete updates. For now, Dogecoin remains a volatile yet intriguing player in the evolving digital payments space.