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Dogecoin Soars as XPayments Account Sparks Speculation

Dogecoin hits a weekly high amid speculation over its integration into XPayments, following the rapid rise of the account's followers on X.

Dogecoin Enthusiasts Excited Over Potential Integration in XPayments

Dogecoin, the popular memecoin, has witnessed a significant surge in its value, reaching a seven-day high, following the emergence of the "XPayments" account on X (formerly Twitter). This development has sparked widespread speculation among traders and investors about the potential integration of Dogecoin in X's payment functions.

Rapid Rise in Followers and DOGE Price Surge

The XPayments account, despite being new and having yet to post any updates, has quickly amassed over 100,000 followers. This rapid growth in followers has coincided with a notable 12.8% increase in Dogecoin's price within just nine hours, peaking at $0.08978. However, the price has slightly corrected since then, trading around $0.08330.

Elon Musk's Influence and Dogecoin's Potential Role

The trader community's optimism is partially fueled by Elon Musk's previous cryptic posts and actions related to Dogecoin. Musk, known for his affinity for Dogecoin, has facilitated DOGE payments at Tesla's merchandise store and even briefly altered Twitter's logo to resemble Dogecoin. These actions have previously led to significant price movements in Dogecoin.

Anticipation for XPayments and DOGE Integration

The speculation is further heightened by Musk's statement in December 2023 about the anticipated launch of XPayments by mid-2024. Given Musk's historical endorsement of Dogecoin, traders are hopeful that DOGE might play a role in X's payment ecosystem. X's application for money transmitter licenses across several U.S. states adds to this anticipation.

Awaiting Official Confirmation and Future Developments

As the crypto community eagerly awaits official confirmation regarding Dogecoin's role in XPayments, the memecoin continues to ride the wave of speculation and excitement. The integration of Dogecoin in a significant platform like X could potentially cement its position in the digital payments landscape.