Dogecoin (DOGE) Price Goes Green as Elon Musk's Xpayments Nears Launch

The price of Dogecoin (DOGE) has experienced an unexpected surge, soaring by more than 14% within a mere 12 hours. The cryptocurrency, known for its meme-inspired roots, witnessed a rapid increase from $0.079 to $0.091, leaving the crypto community buzzing with speculation.

The driving force behind this explosive growth appears to be linked to the enigmatic figure of Elon Musk and his ambitious project, Xpayments. The renowned entrepreneur, recognized for his penchant for cryptocurrencies, particularly DOGE and Bitcoin (BTC), has been making waves with his plans to transform X into a super application, encompassing various services, including financial offerings.

Notably, X, formerly associated with Twitter, officially launched its Xpayments account, signaling a pivotal move into the financial sector. Musk's commitment to this venture is underscored by the acquisition of licenses for money operations in multiple U.S. states. Reports suggest that X is gearing up to introduce peer-to-peer payments, with Musk hinting at potential public availability by mid-2024.

Dogecoin to X?

While Musk has categorically stated that his companies have no intention of issuing their own tokens, the surge in DOGE's price coincides with the unveiling of updates to Xpayments' social media page. This has ignited speculation among the crypto community about a potential integration or collaboration between Dogecoin and X, further fueled by Musk's well-known affinity for both DOGE and BTC.

However, as of now, whether Dogecoin is on the brink of a significant partnership with X or if this is merely a market reaction to Musk's influence remains to be seen.