YEREVAN (CoinChapter.com) — The potential integration of Dogecoin (DOGE) into X (formerly Twitter) continues to create significant waves in the crypto market. Crypto entrepreneur David Gokhshtein insists that people will soon be able to use DOGE to send payments on X.
Thanks to Elon Musk’s vocal support for the original meme token, traders have long speculated its possible integration into the social media platform. These expectations became more probable after Musk acquired Twitter in 2022. Subsequently, he temporarily changed the company’s logo to the Dogecoin crypto image.
While this sent DOGE price soaring, its place in Elon Musk’s bigger plans for X remains a huge factor that attracts investors to the altcoin. David Gokhshtein is one such investor who has tied his faith to this speculation.
X Payments coming soon. Good news for DOGE?
Recently, a new account, ‘ X Payments’ appeared on social media. In no time, it gained over 100,000 followers. Although X is yet to officially confirm the specifics of this account, the crypto community can’t hold back its excitement. To many, it means cryptocurrencies like DOGE will soon find utility for payments on the platform.
These speculations are not unfounded. In January 2022, Musk announced that Tesla would accept DOGE as payment for its merchandise.
In December 2021, Musk argued that Dogecoin is better suited for transactions than Bitcoin (BTC). This again explains why people expect DOGE to be his top crypto.
Last month, the world’s richest man indicated that the company would launch the features for X Payments by mid-2024. Based on what Musk has revealed, he has big plans for X. Last October, he claimed the new feature would make banks redundant.
“When I say payments, I actually mean someone’s entire financial life. If it involves money, It’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account,”
the Verge quoted him saying.
With the launch of its official handle, preparations are well underway to roll out X Payments soon.
What does this mean for Dogecoin Price?
The impact of these developments on Dogecoin will be significant. On the day the X Payments account went live, the DOGE price surged nearly 15%, reaching nearly the $0.090 mark.
However, it has since lost some of its gains and exchanges hands at $0.0769 per token.
If Elon Musk brings the meme token to X payments, Dogecoin price will see a fresh rally, pushing the token to new recent highs.
The broader implications for the crypto industry will also be noteworthy. It will validate the significance of altcoins like DOGE and mark a step toward the mainstream adoption of cryptocurrencies.
