Dogecoin jumps 10% to $0.20 for first time since 2021

Dog-themed meme crypto Dogecoin It rose 10% the previous day, returning $0.20 for the first time since December 2021.

Dogecoin is currently at $0.2038, up 10.8% on the day and 34.6% on the week, according to CoinGecko. According to crypto price tracker, the cryptocurrency last reached $0.20 on December 4, 2021. It's a far cry from the all-time high of $0.73 posted at the height of the crypto bull market in May of that year.

The drop in the meme coin's price comes days after Twitter's artificial intelligence chatbot Grok told some users that Dogecoin payments could be made on the platform – possibly due to an AI illusion, as such functionality was not enabled.

In a Twitter thread, Dogecoin developer Mishaboar speculated that Twitter's crypto payments could be implemented “much earlier” than the five-year horizon, though “probably not before next year,” arguing that payment services like PayPal already support crypto.

Elon Musk, Twitter Payments and Dogecoin

Twitter owner and philanthropist Elon Musk has previously expressed his desire to turn the platform (dubbed X) into a “super app” with payments capabilities through the @XPayments account launched earlier this year.

However, while Musk has long stated that he is a fan of Dogecoin, the tech billionaire has not confirmed that the meme coin (or indeed any cryptocurrency) will be part of any planned payment feature.

It has previously speculated that Dogecoin could be used as a payment method for the social media platform's premium subscription service, Twitter Blue, and has previously partnered with Dogecoin developers.

The Financial Times reported last year that Musk wanted Twitter's planned payments service to be primarily based around fiat currency, but sources familiar with the matter said it was an option to add crypto functionality “later.”

Edited by Stacy Elliott.