Key Insights
- Recent speculation about a XMoney launch has fueled the fires of Dogecoin speculation.
- The new platform will likely feature crypto payment options on launch, and investors are eyeing the $0.5 mark for DOGE.
- Speculation about the newly created D.O.G.E government department has also played a key role in Dogecoin’s attention grab.
- The future remains to be seen, with this platform set for launch sometime in 2025.
Elon Musk’s plans to transform Twitter (X) into an “everything app” have reignited interest in Dogecoin lately.
Recent leaks and comments from influencers now show that Musk’s payment platform (called X Money) could be launching sooner than expected.
Even more importantly, this platform could launch without the need for full regulatory approval in all U.S. states.
So what does this mean? How is Dogecoin going to play a part in this incoming revolution?
Dogecoin’s Integration into X Money
According to a recent post from X CEO Linda Yaccarino in a recent tweet, the new platform will likely hit the market by 2025.
In 2024, X changed the world. Now, YOU are the media!
2025 X will connect you in ways never thought possible. X TV, X Money, Grok and more.
Buckle up. Happy New Year!🥂
— Linda Yaccarino (@lindayaX) December 31, 2024
Source: Twitter
This payment system will be aimed at bringing all forms of functionality including cryptocurrency, much like China’s WeChat.
Some of the speculation on the internet is about possible integrations of Bitcoin and Dogecoin as payment options.
Certain influencers even speculate that stablecoins like Tether’s USDT might play a major role in the platform as well.
Influencers like Alex Finn and Aaron revealed developments in the platform’s code, which show that a rollout is imminent.
🚨BREAKING: X PAYMENTS LAUNCHING IMMINENTLY
New X code has just shipped that reveals X Payments will launch WITHOUT approval from all 50 states
Meaning X Payments could launch TODAY
Creators could start earning WAY MORE money immediately
States it will be available:
1.… pic.twitter.com/8Wej1XrIQK— Alex Finn (@AlexFinnX) January 2, 2025
Source: Twitter
Musk’s connection with Dogecoin has been a driver of most of this speculation.
Observers generally believe that the new payment option will more than likely include Dogecoin as a payment option if crypto is on the table at all.
The WallStreetBets founder Jaime Rogozinski called Musk’s vision a “secret plan for stability” in the crypto industry.
So far, the possibility of DOGE being a part of this massive payment system has been the source of major buzz.
Musk’s Influence on DOGE and Crypto Sentiment
Elon Musk’s influence in the crypto world might have waned over the years. However, it remains undeniably present.
The Tesla CEO recently interacted with a tweet from Billy Markus, Dogecoin’s creator about the creation of a “Dogecoin Reserve” in the U.S.
why not national dogecoin reserve tho https://t.co/jRh0b3rG7j
— Shibetoshi Nakamoto (@BillyM2k) November 15, 2024
Source: Twitter
The speculation further escalated when the newly formed Department of Government Efficiency (D.O.G.E.) was announced.
This department (set to be led by Musk and Vivek Ramaswamy) shares an acronym with Dogecoin and has sparked speculation all the same.
Adding to the intrigue is how Musk strangely changed his social media name to “Kekius Maximus” on X.
All of the above coincided with spikes in Dogecoin’s price, even despite happening at separate times.
Can Dogecoin Hit $0.50 Amid Market Recovery?
Dogecoin’s recent performance shows that the bullish momentum is alive.
The cryptocurrency currently trades at around $0.39 and is holding up nicely with the broader crypto rally from Bitcoin’s surge past $102,000.
why not national dogecoin reserve tho https://t.co/jRh0b3rG7j
— Shibetoshi Nakamoto (@BillyM2k) November 15, 2024
Source: Twitter
In the short term, however, renowned analyst Ali noted that Dogecoin is flashing a sell signal on the daily chart.
This could mean that a temporary pullback could be incoming, before the next major rally.
Despite this warning, investor sentiment is still upbeat with many investors eyeing a possible surge towards $0.50.
Musk’s Crypto Vision And What Comes Next
Elon Musk’s plans for X and his continued involvement with Dogecoin are shaping the narrative for the market as a whole.
Musk’s ability to influence crypto adoption and market trends has been alive since 2020, and the future remains to be seen.
The spotlight remains firmly on Dogecoin as the speculation increases.
Dogecoin could be set for a massive upswing from Musk’s backing and growing investor enthusiasm.
For now, though, the market is waiting to see how things unfold for the largest memecoin on the market.
