Dogecoin and X: Will the Partnership Happen?
Dogecoin enthusiasts are eagerly awaiting news about a potential collaboration between X (formerly Twitter) and Dogecoin. X is expanding its app to include payment integrations, and with Elon Musk leading the way, many believe that Dogecoin could be one of the supported cryptocurrencies.
X’s CEO, Linda Yaccarino, recently released a video outlining the app’s upcoming features. The updated app aims to be a comprehensive platform for sharing information, participating in discussions, making calls, and joining community chats.
One exciting revelation in the video is X’s plan to evolve into a payments app. Users will be able to make online purchases, send money, and earn income from ad revenues by participating in Elon Musk’s creator community.
This step confirms previous rumors about X’s interest in the payments industry. Elon Musk has always envisioned creating an all-in-one app experience since taking over Twitter and rebranding it as X last year.
While there is no explicit mention of Dogecoin or any other cryptocurrencies in the video, Dogecoin supporters remain hopeful. Last year, when news broke of Musk’s acquisition of Twitter, Dogecoin experienced a significant price surge. Although the coin has since seen a decline, it remains one of the top ten cryptocurrencies by market capitalization.
Musk may not have recently made direct Dogecoin-related posts on X or elsewhere, but he continues to engage with the Dogecoin community. His interactions with notable figures like DogeDesigner (@cb_doge) on X demonstrate his ongoing connection with the cryptocurrency.
The Building Blocks for Payment Integration
Three weeks ago, X obtained money transmitter licenses in seven US states, including Maryland, New Hampshire, and Rhode Island. This move sets the stage for the platform’s recent announcement. Interestingly, the Rhode Island license covers both crypto payments and more general payment providers like PayPal and Venmo.
X has been securing similar licenses from other states since June, including Arizona, Georgia, Michigan, Missouri, and New Hampshire. While these licenses have broad scope, they are crucial steps towards Musk’s goal of turning X into a global payment processor.
DOGE Price Movement
As of now, Dogecoin is trading at $0.0627. The price has remained relatively stable over the past month. However, on longer time frames like the 1-day chart, DOGE shows a clear downtrend that needs to be broken for a potential upward momentum to occur.
Hot Take: The Future of Dogecoin and X
The partnership between X and Dogecoin remains uncertain despite the anticipation among enthusiasts. While X’s expansion into payments opens up possibilities for cryptocurrency integration, there is no concrete evidence of Dogecoin’s inclusion at this time. However, Elon Musk’s continued engagement with the Dogecoin community suggests that his fondness for the cryptocurrency has not waned. As X continues to make strides in the payments industry, it will be interesting to see if Dogecoin becomes part of its supported cryptocurrencies in the future.
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