Elon Musk is one of the most vocal supporters of Dogecoin (DOGE). Musk has even enabled DOGE payments for Tesla and SpaceX merchandise and also for The Boring Company. Musk’s comments about DOGE have often led to price spikes for the original memecoin. DOGE fans and investors are currently waiting for the tech billionaire to enable DOGE payments on the X social media platform (formerly known as Twitter).
Also Read: Dogecoin: July’s 7% Rally has DOGE Targeting $0.25 in 2024
X Payments is an upcoming payment feature on X that is expected to be similar to Venmo or Zelle. The platform has received licenses from numerous states in the US and is expected to roll out sometime this year.
Will X Payments enable Dogecoin payments?
The intricate details about X’s upcoming payment feature are still unclear. The platform is likely to roll out with cash-based services at least in the beginning. The company has not made any clear statements about the inclusion of cryptocurrencies.
Also Read: Dogecoin to Reach $1.8 by 2029? Experts Weigh In
Given Elon Musk’s constant support for Dogecoin, there is a possibility that the memecoin will make its way to the platform, if not now, then later. Musk has also expressed a desire to enable DOGE payments for Tesla vehicles in the future.
If X Payments includes DOGE as an accepted currency, the asset may see a massive spike in adoption. X had 6.1 billion monthly visits as of April 2024. If DOGE is exposed to such a large number of users, we may witness a massive price spike for the coin.
Also Read: Elon Musk Predicts The Future Of The US Dollar
We still do not have any confirmation on when X Payments will go live and when, if at all, Dogecoin will be accepted on the platform.
Credit: Source link
