Fri. May 24th, 2024

Traders Speculate On Dogecoin as ‘XPayments’ account gains 100K followers in a day

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Although X hasn’t confirmed exactly what payment functions it plans to incorporate, traders seemingly speculate that DOGE could make part of the offering.

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Dogecoin hit a 7 day high of $0.08978 in a nine-hours window between late Jan. 20 after Elon Musk’s “everything app” X, created a dedicated account for its upcoming payments feature.

The account hit 100k followers in a day, mostly crypto enthusiasts who hope crypto might be incorporated into the proposed payment channels.

While the ‘XPayments’ account has not made any posts yet, and the specific payment functions it intends to provide remain unconfirmed by X, traders appear to be speculating that DOGE might be included in the offerings. This speculation is fueled by occasional mentions of DOGE by the site’s owner, Elon Musk.

For a while now, users of X have been expressing their anticipation for Musk to incorporate DOGE into the platform. This expectation stems from various cryptic doge related posts from the billionaire.

Elon Musk has introduced payments with dogecoin on Tesla’s merchandise store and changed Twitter’s logo to Dogecoin shortly after he took over the platform in April 2023.

In December 2023, Musk announced that he anticipates the launch of payments on X to occur around mid-2024. During the same year, the company took steps to apply for money transmitter licenses in multiple states in the United States.

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