Dogecoin Doubles as Rumors Swirl of Elon Musk’s X Integration

Amid speculation that Elon Musk may incorporate Dogecoin into X, the price of Dogecoin has doubled in the past month, contributing to the cryptocurrency market surpassing $2.5 trillion. The tech giant, known for his affinity for Dogecoin, has previously outlined his vision of an “everything app” spanning messaging, marketplaces and online payments.

Recently, Musk hinted at the possibilities of integration by sharing an animation showing the legacy payments platform merging with a social media app. “The circle will be complete,” he said cryptically. In January, X launched a dedicated payment account after securing money transfer licenses in the US. Both SpaceX and Tesla already accept Dogecoin payments, and Musk’s previous endorsements have spurred price increases.

Musk, who is reportedly a hodler of Dogecoin, has touted its potential as a leading online currency, emphasizing its simplicity and efficiency. He even envisioned it as the official currency for a human colony on Mars, joking that “the most fun outcome is often the most likely.” Such statements, along with his high-profile endorsement on Saturday Night Live, propelled Dogecoin to a record price of over $0.70 in 2021.

Dogecoin’s recent rise coincides with a broader crypto market rally, highlighted by Bitcoin hitting an all-time high this month. Amid speculation that Elon Musk may include Dogecoin in X, Dogecoin’s price has doubled in the past month, contributing to the cryptocurrency market surpassing $2.5 trillion. The tech giant, known for his affinity for Dogecoin, has previously outlined his vision of an “everything app” spanning messaging, marketplaces and online payments.

Recently, Musk hinted at the possibilities of integration by sharing an animation showing the legacy payments platform merging with a social media app. “The circle will be complete,” he said cryptically. In January, X launched a dedicated payment account after securing money transfer licenses in the US. Both SpaceX and Tesla already accept Dogecoin payments, and Musk’s previous endorsements have spurred price increases.

Musk, who is reportedly a hodler of Dogecoin, has touted its potential as a leading online currency, emphasizing its simplicity and efficiency. He even envisioned it as the official currency for a human colony on Mars, joking that “the most fun outcome is often the most likely.” Such statements, along with his high-profile endorsement on Saturday Night Live, propelled Dogecoin to a record price of over $0.70 in 2021.

Dogecoin’s recent rise coincides with a broader crypto market rally, highlighted by Bitcoin hitting an all-time high this month.