Memecoin $Doge bullish as XPayments account gains 100K followers in a day
Traders are once again fueling optimism surrounding Dogecoin, the popular memecoin with a canine theme, as a newly established payments-focused account named "XPayments" gains swift popularity on X, formerly known as Twitter. This account has swiftly amassed over 100,000 followers, propelling DOGE to a weekly high.
Experiencing a notable 12.8% surge in a nine-hour timeframe between late January 20 and the early hours of January 21, Dogecoin reached $0.08978, marking a seven-day peak, as reported by Cointelegraph Markets Pro. However, it has witnessed a marginal 4% decline in the past day and is presently trading at $0.08330.
Despite the XPayments account yet to make any posts, speculation among traders suggests that Dogecoin could potentially be part of the platform's payment offerings. This speculation arises from occasional mentions of DOGE by the site's owner, the enigmatic billionaire Elon Musk.
Doge is rising as speculation abounds from the creation of the @Xpayments account
— 💸💸💸 (@itsALLrisky) January 20, 2024
Elon has never erred in his support of Doge, even against tremendous pressure during a prolonged bear market
𝕏 Payments is the utility that Doge deserves—Giving The People control of their money!
X users have long anticipated Musk's integration of DOGE into the platform, driven by cryptic X posts and bio updates from Musk himself. Elon Musk, who has allowed DOGE payments on Tesla's merchandise store and changed Twitter's logo to Dogecoin's, triggered a 22% surge in DOGE's price after assuming control of the platform in April 2023.
In December 2023, Musk expressed his anticipation for X payments to be launched by mid-2024. Furthermore, the company applied for money transmitter licenses in multiple U.S. states in 2023, indicating significant steps toward incorporating cryptocurrency into its functionalities.
