X Payments Launch Set to Include DOGE: Crypto Community Prepares for New Heights

Elon Musk’s interest in Dogecoin is not new, and his ventures have historically influenced DOGE’s price and popularity. The news of X (formerly Twitter) obtaining payment processing and money transmitter licenses in additional US states has reignited speculation and hope within the cryptocurrency community about the potential for Dogecoin to be integrated into the platform for payments and tipping. 
Given Musk’s historical support for DOGE as a viable payment method, this development could significantly bolster Dogecoin’s use case, transitioning it from a “memecoin” to a more universally accepted digital currency for transactions on a major social media platform.
Recent Price Movements
The anticipation surrounding the integration of DOGE payments on X has led to a notable surge in Dogecoin’s price, jumping 44% from $0.1291 to $0.2 This price movement is backed by a substantial increase in trading volume and open interest, indicating growing investor interest and speculation on future price movements.

The increase in open interest, specifically, suggests that traders are positioning themselves for further price volatility, likely betting on the news of X’s licensing and potential future announcements regarding DOGE payments.
Market Sentiment and Technical Analysis
The bullish trend in DOGE, as indicated by technical analyses such as the Keltner Channel bandsthe Chaikin Money Flow, suggests strong buying pressure and investor confidence in the cryptocurency’s near-term prospects.

However, the near-overbought levels on the RSI (Relative Strength Index) also warn of a potential price correction, should the buying pressure ease or if the market sentiment shifts.
Broader Cryptocurrency Adoption and Speculation
Comments from influencers and developers within the Dogecoin community, such as Mishaboar, highlight a broader trend towards cryptocurrency adoption in payment systems, suggesting that the integration of DOGE payments on X could occur sooner than many expect. 


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