Platform X Will Launch Payment System, DOGE Strong Candidate?

Bittime - Speculation surrounding the launch of a payment system on platform X is now in the spotlight in the crypto world. In the last few weeks, rumors regarding the presence of "X Money" have become increasingly popular. 

This news sparked optimism among investors and Dogecoin (DOGE) fans who are known for their support from Musk. 

Some parties estimate that the launch of this payment system could be a stepping stone for DOGE to gain wider use. In fact, this meme coin could become the main payment option on the platform.

Elon Musk's X Payment Launch Speculation Drives Optimism in Crypto World

Elon Musk, who is famous for his ambition to turn X into an "everything app" similar to WeChat in China, is increasingly showing his seriousness in realizing an integrated payment system. 

Based on the Forbes report, several leaks suggest that X Money—the name of the upcoming payment system—will most likely be launched in the near future, although there is not yet full approval from all states in the US. 

Several crypto influencers also hinted that the platform's newly released code indicates a very fast launch.

Read also: Finally, Dogecoin is predicted to rise to $1 in 2025

X CEO, Linda Yaccarino, has confirmed plans to introduce X Money in 2025. The feature aims to offer a variety of features including support for cryptocurrencies. 

This is similar to WeChat Pay which has been successful in China. While there has been no official announcement, speculation is growing that Bitcoin, Dogecoin, and stablecoins like USDT will likely be part of this payment system. 

This speculation is gaining strength, with many investors hoping that Dogecoin will become one of the main choices in such payment systems.

Is DOGE a Strong Candidate for Platform X Payments?

Dogecoin emerged as a strong candidate for integration in the X payment system because it has long received attention from Elon Musk. The existence of Musk, who is known as a supporter of DOGE, makes many people optimistic that DOGE will become an important part of the X Money ecosystem. 

Not only that, Musk also often shows his support for this meme coin. This support makes many investors hope that DOGE will gain more legitimacy as a digital currency that can be used in daily transactions.

In fact, several market observers, such as crypto expert Ali Martinez, revealed that the launch of X Money will have a positive impact on DOGE prices. 

With Musk's close connection to Dogecoin, many believe that DOGE could benefit greatly from this integration, both in terms of adoption and price spikes. 

Several influencers on social media have also shown their support for DOGE, with the hope that the X payment system will create great opportunities for this token to develop further.

Read also: 5 Potential Cryptos for the Short Term: Dogecoin, Pepe Coin, Bonk, and Others

The Influence of Elon Musk's Speculated Launch of Payment X on DOGE

Speculation about the launch of X Money not only raised new hopes for the Dogecoin ecosystem, but also influenced the price of DOGE. 

Even though the price of Dogecoin is currently at around $0.3518 (around Rp. 5,663), which has experienced a decline of around 10% in the last 24 hours, optimism among investors remains high. 

The increase in interest in DOGE is also reflected in the high interest in DOGE futures contracts. The asset recorded an increase in open interest. 

This indicates that many investors are starting to prepare for a possible DOGE price rally. Bearing in mind, there is the potential for Musk to launch the X payment system. 

Apart from that, Musk also recently expressed his support for DOGE through a mysterious post referring to the possible existence of Dogecoin reserves in the US. 

This further strengthens speculation that DOGE will have a special place in the X Money ecosystem.

Read also: Dogecoin and Altcoin Receive Scorching Criticism from the Bloomberg Analyst Team, What's the Reason?

FAQs About Dogecoin

1. What is Dogecoin?

Dogecoin (DOGE) is a cryptocurrency that was originally created as a joke or meme, but over time it has become one of the digital assets with the largest market capitalization. 

2. What does Elon Musk have to do with Dogecoin?

Elon Musk is known as a major supporter of Dogecoin. Through his various tweets and support for DOGE, Musk has provided a major boost to the popularity and adoption of Dogecoin in the global crypto market. 

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Reference 

Coingape, Elon Musk’s X Payment Launch Speculation Fuels Hope For DOGE Rally Ahead, accessed January 8, 2025.

Inside Bitcoin, Dogecoin Price To Soar Again? Elon Musk’s X Payment Launch Speculation Sparks DOGE Rally Hopes, accessed January 8, 2025.

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