Speculation surrounding Elon Musk’s X payment system launch has quickly invigorated the cryptocurrency market. Following the latest news, the popular meme coin Dogecoin (DOGE) is also showing potential rally signals. Experts are forecasting a bullish outlook for DOGE.
Will the X platform accept DOGE payments?
Speculation about Elon Musk’s new X payment platform is rapidly increasing. Well-known figures and experts are drawing attention to this topic. Investors are eyeing the news due to Musk’s past support for Dogecoin, fueling optimism that DOGE may be integrated into this new system.
Musk’s X payment system aims to turn the X platform into a multi-functional “everything app” similar to China’s WeChat. According to leaked information from Forbes, X Money is expected to launch soon without waiting for approval from all U.S. states. Alex Finn noted that changes in the platform’s code suggest that the launch has been accelerated.
X CEO Linda Yaccarino stated that X Money is planned to be launched by 2025. The system aims to integrate cryptocurrency support with coins like Bitcoin, Dogecoin, and Tether (USDT). While no official announcement has been made, experts believe these cryptocurrencies will play a key role in the ecosystem.
Experts believe Musk will somehow pave the way for cryptocurrencies
Another prominent influencer, Aaron, pointed out that X Money may be launched soon in certain regions of the U.S. WallStreetBets founder Jaime Rogozinski mentioned that Musk is preparing a plan to bring stability to the digital currency market. He also supported speculation that Dogecoin could play an important role within this system.
Is a Dogecoin (DOGE) price rally possible?
The planned launch of X Money is providing strong bullish signals for Dogecoin. Market analyst Ali Martinez referred to Musk’s support for Dogecoin and said, “There’s a DOGE smell here.” Additionally, Musk’s cryptic social media updates fueled rumors of a “Dogecoin Reserve” forming in the U.S. Meanwhile, a new government unit led by Musk with a name similar to the Dogecoin abbreviation (D.O.G.E.) has caused major discussions in the crypto market.
Despite a 0.7% decrease in the last 24 hours, bringing its price down to 0.3833, DOGE has increased by 20% on a weekly basis. Rising futures interest and speculation signal strong investor confidence in the coin’s growth potential.
As we reported on Kriptokoin.com, DOGE whales have been particularly active recently. Between January 1-2, whales bought a total of 1.08 billion DOGE. On-chain data reveals that 37% of the current DOGE supply is controlled by five whales, with the largest whale controlling about 20% of the total supply.
