Dogecoin (DOGE) climbed 5% on fresh speculation tied to Elon Musk’s X platform, reaching levels last seen earlier this month. The rally followed Musk’s post of a screenshot featuring podcaster Joe Rogan’s X profile, which included a mysterious dollar icon. Observers speculated that the icon might hint at a forthcoming money transfer feature as part of X Payments.
DOGE has a long-standing pattern of reacting to Musk’s comments or developments in his companies, especially when related to payments. Musk has previously floated plans to transform X into a comprehensive “everything app,” integrating features such as user-to-user payments. In line with this vision, X Payments LLC has already secured money-transmitting licenses in most U.S. states, excluding New York.
Crypto enthusiasts are speculating that DOGE could play a role in the X Payments ecosystem, given Musk’s known affection for the token. Tesla, another Musk-led company, currently accepts Dogecoin for select merchandise purchases, further fueling these expectations.
Over the past 24 hours, DOGE surged by 5.4%, outperforming bitcoin (BTC), which remained flat. The token has rallied 190% over the last month and is trading at levels not seen since May 2021.
