Speculation over potential Dogecoin adoption at Elon Musk’s newly launched X Payments platform powered double-digit price pops for the meme coin. DOGE ultimately pared gains along with copycat token Floki Inu as the crypto rally fizzled out Monday. However, the latest buzz of Musk payment hype revived the question: just how high can DOGE go if accepted by the X Payments platform?
DOGE, initially made as a joke, has surprised many doubters who make fun of the coin. Its ability to stay relevant can mostly be attributed to Elon Musk’s constant support for cryptocurrencies and his playful approach.
Also read: Shiba Inu: $1000 in SHIB Becomes $9 Million in January 2024
The X hype triggered a surge for Dogecoin over the weekend, with prices rising as much as 12% and trading volumes doubling. Copycat Floki Inu saw similar early interest as retail traders chased the latest advance rumors surrounding Musk.
Of course, those temporary pops ultimately dissolved amid a risk-off Monday, with DOGE giving back most of its weekend traction. Still, the sensitivity to all things Musk keeps hopes of a more permanent moonshot alive if DOGE payments materialize at X.
How High Can DOGE Go After X Payment Integration?
Right now, it’s mainly guesswork until either Elon Musk or another Musk-related organization officially announces payment support for Dogecoin. Nonetheless, everything is set up for the next excitement to kick in as soon as that significant tweet or announcement comes along.
Also read: Ripple (XRP) Could Drop To $0.34 If It Breaks This Support
If X begins to accept Dogecoin as payment, it could most probably defy all predictions and exhibit a parabolic run. The likelihood of DOGE hitting a new all-time high is also not out of the picture.
Credit: Source link