Elon Musk’s X Payment Rumors Ignite Anticipation of a DOGE Price Rally

Many the cryptocurrency market have speculated that Elon Musk has plans to release the X payment system soon.

The market has spectators focused on the fact that many investors expect Dogecoin to rise in price because of the CEO’s fondness for it.

The most recent speeches and conversations among industry personalities have only fueled the speculation, bringing good cheer to DOGE holders.

Elon Musk's Vision for X Payment System

Elon Musk and Tesla’s concept to change X into an” everything app” seems to fuel speculations on the new X payment system.

In more related news from Forbes, a payment feature of the stage known as “X Money” may be rolled out soon despite the platform not being fully licensed for operations in all the states of America.

An X influencer, Alex Finn, further stated that some recent changes to the code of the platform may suggest a fast increase in the rate of allowing payments.

Linda Yaccarino, the CEO of X, said X Money, which is planned to be released by 2025, will also support cryptocurrencies due to China’s WeChat.

There have been no official revelations, but analysts estimate that Bitcoin, Dogecoin, and stablecoins such as Tether’s USDT will hold important roles in payments.

Influencers Fuel Speculation About DOGE Integration

Well-known X influencer Aaron together with the founder of the WallStreetBets Jaime Rogozinski have joined the list of individuals who stirred up expectations for further X payments’ integration with Doge.

Aaron pointed out that X Money could enter the US before getting full approval across all the states, and Rogozinski called Musk’s plans the “secret initiative for stability” of digital currencies.

These events have created quite an optimism among investors that Dogecoin may well be adopted for use as a payment method on the X platform.

Of course, Musk has been bullish on Dogecoin, which only reinforces this rhetoric, with people seeing his messages as clues regarding DOGE in the payment system.

Market Analysts Predict Bullish Momentum for DOGE

Now with the future introduction of the X payment, it become evident that market specialists are optimistic about the future of Dogecoin.

Crypto analyst Ali Martinez recently spoke about the news, claiming that there is a clear correlation between Musk’s payment plans and Dogecoin.

The community has been drawn by Martinez’s statement in the series in which he said, “It smells like DOGE in here.”

Moreover, the recently introduced Department of Government Efficiency (D.O.G.E.) association with Musk also creates great interest.

Just like Dogecoin‘s ticker symbol, it‘s the same as the acronym for the department and this has sparked further debate within the crypto space.

DOGE Price Movement and Investor Sentiment

However, the expectation for Dogecoin started to increase, but its price dropped slightly, being fixed at $0.3833, which is 0.7% lower than the price it was 1 day ago.

Though the token has risen by about 20% in the last week, showing the growing sentiment among investors.

The DOGE Futures Open Interest has also been on the rise in recent days indicating that more activity is been experienced in the market.

Several analysts hold the opinion that a confirmed integration with X Money greatly might impel an extensive growth of Dogecoin’s price.

These events around X payments have manifested a lot of interest around the cryptocurrency community as they speculate on how these experiments would address issues of volatility for the Dogecoin, and other altcoins.