Emily Walker
The topic of Dogecoin payments on X has resurfaced due to recent events, including a leaked code that indicates a forthcoming launch of X payments.
Increased Speculation on Dogecoin Transactions with the Upcoming X Money Launch
Discussion surrounding Dogecoin payments on X has intensified with the anticipated launch of X Money. Tech enthusiast Aaron shared a post revealing a code that implies X is ready to introduce X Money in the U.S. before obtaining full approval in all 50 states; it has already acquired licensing in 38 states.
Entrepreneur Alex Finn previously stated that X doesn’t need approval from all states to launch its payment service. This aligns with confirmation from X CEO Linda Yaccarino that ‘X Money’ is set to launch this year, rekindling discussions within the crypto community about the integration of Dogecoin as a payment option.
This prospect is bolstered by Elon Musk’s known support for Dogecoin. Additionally, his autobiography suggested that cryptocurrency integration is a crucial part of his vision for an ‘Everything app’ that mirrors the upcoming X Money service. Given that the legal issues he faced regarding manipulation were dropped last year, Musk is strategically positioned to advocate for DOGE integration into the payment system.
Musk’s commitment to DOGE is further demonstrated as he has proposed naming a new U.S. institution (Department of Government Efficiency) after the meme cryptocurrency’s ticker. Hence, integrating Dogecoin payments on X seems quite feasible thanks to Musk’s insistence.
Crypto analyst KrissPax expressed confidence in Musk’s forthcoming integration of Dogecoin payments once X Money is operational, suggesting this could enhance the optimistic momentum for the popular meme coin.
Is DOGE Approaching a Bullish Phase Again?
As discussions around Dogecoin payments circulate, DOGE appears set to experience another bullish phase. Analyst KrissPax indicated that, on a monthly timeframe, the meme coin is on track to form a bullish engulfing green candle this month.
The analyst noted that DOGE’s price movements can be likened to trends observed in May 2024 when DOGE showed upward movement but failed to exceed the peak of the previous month’s price decrease, leading to further declines.
KrissPax also mentioned that Dogecoin has gained approximately 25% so far in January. He pointed out that if DOGE surpasses $0.422 and closes this month above that mark, it may result in higher valuations in February.
Currently, Dogecoin is trading at around $0.39, reflecting an increase of over 2% in the last 24 hours, based on data from CoinMarketCap.