Dog-themed memecoin Dogecoin has hit a weekly high following the creation of the new “XPayments” account on X (formerly Twitter), which has now clocked over 100,000 followers.
DOGE climbed 12.8% in a nine-hour window between late Jan. 20 and hit a seven-day high of $0.08978 in the early hours of Jan. 21, according to data from Cointelegraph Markets Pro.
It’s since fallen around 4% in the past day and is currently trading at $0.08330.
While the XPayments account is yet to make a post — and X hasn’t confirmed exactly what payment functions it plans to offer — traders seemingly speculated that DOGE could make part of the offering due to its occasional mention by the site’s owner, Elon Musk.
X users have long hoped that Musk would somehow integrate DOGE into the platform due to multiple cryptic X posts and bio updates from the often-enigmatic billionaire.
Musk has allowed DOGE payments on Tesla’s merchandise store and changed Twitter’s logo to Dogecoin’s shortly after he took over the platform in April 2023, which caused a 22% spike in DOGE’s price.
In December 2023, Musk said he expects payments on X to be launched sometime by mid-2024. In 2023, the company applied for money transmitter licenses in several United States.
Source : Cointelegraph by Jesse Coghlan / Jan 22, 2024