Dogecoin Has Another Big Week

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As a seasoned crypto investor with a knack for spotting trends and a penchant for deciphering Elon Musk’s cryptic tweets, I can’t help but feel a twinge of excitement whenever he drops a hint about his next big move. The recent screenshot of Joe Rogan’s X profile, complete with the mysterious dollar icon, has sent ripples through the crypto community.

The chatter started after Elon Musk shared a screenshot of podcaster Joe Rogan’s profile on X, which had a noticeable dollar symbol. Users on the platform suggested that this icon might signal a new payment method, different from the current tipping system. Musk’s cryptic “true” response to one such post added more fuel to the speculation fire.

The price of Dogecoin often responds to Elon Musk’s comments, especially when linked to transactions at his businesses. Musk has suggested multiple times that he aims to turn X into a multi-purpose app, with peer-to-peer payments as a key aspect. X Payments LLC has already obtained money transmission licenses in nearly all U.S. states, except for New York.

Supporters of cryptocurrency think that this payment method could potentially include digital currencies, and given Elon Musk’s known fondness for Dogecoin (a meme-based crypto), it is plausible that Dogecoin could be among the options. Interestingly, Elon Musk’s company, Tesla, already accepts Dogecoin for specific merchandise transactions.

In contrast to Bitcoin‘s unchanged performance within the last day, Dogecoin surged by 5.4%. Looking at the bigger picture, over the past month, Dogecoin has experienced a remarkable increase of 190%, hitting its highest price point since May 2021.

With Elon Musk constantly hinting at new developments in X, Dogecoin stays front and center, showcasing its lasting popularity as Musk’s preferred digital currency.

 

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2024-11-24 14:02