Dogecoin It is rising on Friday, hitting its highest price in a week, as speculation over Elon Musk's introduction of payments for the X social media platform – formerly Twitter – is on the rise again.
The Tesla CEO and the world's richest man posted a screenshot of podcaster Joe Rogan's profile early Friday. In an instant, a dollar sign appears next to a prominent profile picture—leading to speculation that a new feature will be revealed soon.
To an X user's post on Friday about the mysterious new gadget, which isn't currently visible to users on the platform, Musk simply replied, “True.”
Nima Ouji, who describes herself as an “independent app researcher,” wrote, “My guess is that the ‘$' key is part of X Payments to send money to someone.”
The price of Dogecoin has now increased by 4% in the last 24 hours and is now valued at $0.40. basis to CoinGecko. The price briefly rose above $0.41 earlier, marking the highest price in more than a week.
It has surged 87% since last week following Musk's comments and Bitcoin's impressive rally to new all-time highs.
In 30 days, the coin – the seventh – largest digital asset – jumped 189% in value. hit Three years high At the beginning of last week, about $ 0.43.
Dogecoin was invented in In 2013, a group of engineers created a meme for the Shiba Inu dog “Doge”. The idea was to poke fun at the slew of altcoins entering the crypto space after Bitcoin went under.
But when tech entrepreneur CEO Elon Musk started making money on Twitter in 2020 by posting memes, his value skyrocketed and he gained a cult following.
In the year It hit an all-time high of $0.73 in 2021, but has since fallen sharply. Musk is starting to gain traction again as he talks about how he likes the coin and prepares to take on a new role in President-elect Donald Trump's new administration at an agency called the Department of Government Efficiency (DOGE).
Musk, who bought Twitter in 2022 and changed its name to X, spoke enthusiastically about users making payments on the platform.
Before buying Twitter, Musk teased potential plans to buy Dogecoin for premium subscriptions. however, Documents He showed. While the payment feature was in the works earlier this year, crypto wasn't part of the plan — at least not at first.
Edited by Andrew Hayward
Daily Debrief Newspaper
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