Dogecoin hits 7-day high as ‘XPayments’ account hits 100K followers in a day
Dog-themed memecoin Dogecoin (DOGE) has now attracted more than 100,000 followers following the creation of the new “XPayments” account on X (formerly Twitter).
DOGE rose 12.8% in the nine-hour window between late Jan. 20 and touched a seven-day high of $0.08978 in the early hours of Jan. 21, according to Cointelegraph Markets Pro data.
It has fallen about 4% since last day and is now trading at $0.08330.
While the XPayments account has yet to post — and X hasn't confirmed exactly what payment functions it plans to offer — traders have speculated that DOGE could be part of the offering due to occasional mentions by the site's owner, Elon Musk.
Doge is on the rise as speculation abounds over the creation of the @Xpayments account.
Elon has never been wrong to support the Doge, despite the intense pressure of a long bear market.
Payments is the utility Doge deserves—putting people in control of their money!
— (@itsALLrisky) January 20, 2024
X users have long expected Musk to integrate DOGE into the platform, thanks to the many cryptic X posts and often surprising billionaire bio updates.
Anyone notice the Dogecoin (Ɖ) symbol around Elon Musk pic.twitter.com/Y1OGT42hD2
— Morgan (@Helloimmorgan) July 24, 2023
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Musk authorized DOGE payments at Tesla's retail store and changed Twitter's logo to Dogecoin after taking over the platform in April 2023, leading to a 22% increase in DOGE's value.
In December 2023, Musk said he expects payments on the X to begin in mid-2024. In the year In 2023, the company applied for money transfer licenses in several United States.
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