X Announces Upcoming Payment Integration: Dogecoin Included?

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Dogecoin fanatics are buzzing with anticipation following latest developments at X, the platform beforehand referred to as Twitter. As a part of its formidable enlargement to reinforce its “All the pieces app”, X is introducing a variety of cost integrations, and with Elon Musk on the helm, many speculate that Dogecoin could possibly be among the many supported cryptocurrencies.

Linda Yaccarino, X’s CEO, at the moment unveiled a video outlining the app’s potential options. From sharing info and collaborating in group discussions to creating calls and tuning into group chats, the up to date app guarantees to be a complete platform.

Significantly hanging is the video’s revelation that X goals to evolve right into a funds app, revealing options that enable customers to promptly make on-line purchases, remit cash, and harness earnings from advert revenues when collaborating in Elon Musk’s creator group.

This step is critical, solidifying rumors and speculations that had been swirling in latest months relating to X’s ambitions within the funds area. Elon Musk, having taken the reins of Twitter final yr and rebranding it to X, is thought for his holistic imaginative and prescient of making an all-in-one app expertise.

Given his vocal assist for cryptocurrencies, particularly Dogecoin, there’s been rampant hypothesis concerning the potential introduction of DOGE funds on X. Notably, there’s not (even a small) trace concerning the integration of DOGE or crypto generally within the video launched at the moment.

a touch of what’s to come back. who’s in? https://t.co/TYEevYJlfL pic.twitter.com/G0DTLeHQic

— Linda Yaccarino (@lindayaX) September 20, 2023

Trigger Of Concern For Dogecoin Traders?

Nonetheless, the DOGE group stays hopeful. Dogecoin’s worth trajectory witnessed a pointy surge final yr when information of Musk’s acquisition of Twitter started circulating. Though the coin has seen a downtrend since, it stays firmly inside the prime ten cryptocurrency property by market capitalization.

Whereas Musk has not not too long ago made overt Dogecoin-related posts, comparable to sharing a DOGE meme or donning a DOGE shirt like previously, he continues to be deeply engaged with its group. Proof lies in his interactions on X, the place he regularly communicates with notable Dogecoin figures, comparable to DogeDesigner (@cb_doge).

A have a look at his X feed and communications reveals that Dogecoin group member DogeDesigner is one among his favourite accounts to work together with. Within the final 24 hours alone, Musk has written 11 replies to tweets from DogeDesigner. Musk can also be in common communication with Dogecoin creator Billy Markus. So there are good causes to argue that Musk’s fondness for Dogecoin has not diminished.

In a noteworthy growth, three weeks in the past, X procured cash or forex transmitter licenses in seven US states, together with Maryland, New Hampshire, and Rhode Island and has thus laid the groundwork for at the moment’s revelation. Apparently, whereas the Rhode Island license does embody crypto funds, it additionally covers extra normal cost suppliers like PayPal and Venmo.

Since June, X has secured comparable licenses from different states, together with Arizona, Maryland, Georgia, Michigan, Missouri, and New Hampshire. These licenses, although broad in scope, are necessary constructing blocks for Musk’s ambitions to doubtlessly enterprise X right into a worldwide cost processor.

DOGE Value

At press time, DOGE was buying and selling at $0.0627. Thus, the Dogecoin worth is buying and selling nearly precisely on the similar degree as a month in the past. On the upper time frames (1-day chart), DOGE reveals a transparent downtrend (black line) that must be damaged with a view to unleash a brand new upward momentum.