The creation of the “XPayments” account on X (previously Twitter), which has amassed more than 100,000 followers, has caused the dog-themed memecoin Dogecoin to reach a weekly high.
In nine hours, beginning late January 20 and ending early January 21, DOGE increased 12.8% and reached its highest level in seven days, $0.08978, according to data from Cointelegraph Markets Pro.
Since then, it has declined by about 4% over the past day and is now worth $0.08330.
Although the XPayments account has yet to publish any content and X has yet to specify which payment functions it intends to provide, traders have speculated that DOGE, occasionally mentioned by the site’s proprietor Elon Musk, may be included in the offering.
Numerous cryptic X posts and bio updates from the frequently enigmatic billionaire have inspired X users to speculate that Musk might incorporate DOGE into the platform.
Musk enabled DOGE payments on the Tesla merchandise store and changed the logo of Twitter to Dogecoin shortly after assuming control of the platform in April 2023; these actions caused the price of DOGE to increase by 22%.
Musk stated in December 2023 that he anticipates introducing X payments by mid-2024. The organization submitted license applications for money transmitters in multiple states in 2023.
