The Dogecoin crypto is in the spotlight after X’s recent tweet fuels speculation about its relation with the social media platform.
Dogecoin has been on investors’ radar lately, as seen by the surge in its recent price. Also, the meme crypto has been trending over social media platforms, suggesting its increasing popularity in the crypto segment.
Notably, On October 25, X, formerly known as Twitter shared a skeptic meme post related to “Dog”, which has sparked speculations among the crypto DOGE community, as well as in the broader market.
While there is no attached information to the post, it is speculated that Elon Musk-owned X is likely putting their focus on adopting Dogecoin. Interestingly, this is not the first time such speculations were all across the micro-blogging site, X.
Elon Musk’s Opinion About Dogecoin
Elon Musk has always been a supporter of cryptos, especially Dogecoin. In an interview, Musk mentioned that DOGE could potentially be used as a payment option.
However, during the interview, he did not mention any concrete plan to indulge in the app payment option with DOGE.
Regardless, Musk’s favoring and encouraging Dogecoins has sparked enthusiasm amongst Dogecoin fans. Tesla CEO, Elon Musk’s Statement ignites Dogecoin Bulls, as it showed a notable growth, rebounding from a downtrend earlier.
In addition, it is interesting to note that Elon Musk has a liking towards crypto, specifically Dogecoins. Looking at Musk’s X feed, it is known that Dogecoin community member DogeDesigner is one of his favorite accounts, and he has interacted with the account with replies and tweets.
Now, once again the speculation is hyped up with the recent update, hinting at X’s growing interest in Dogecoin. Considering the early statements and constant relation with DOGE, Elon Musk’s example usage indicates possible consideration by the X team.
DOGE’s Latest Price & Performance
The Dogecoin price traded at $0.6586 during writing, down by 2.41% over the last 24 hours, while its one-day volume slumped 33.63% to $474.63 million. The recent plunge in the meme coin price is likely due to a downward momentum in the broader market after a recent rally.
However, over the past seven days, the Dogecoin price noted gains of nearly 12%, while in the last 30 days, its price soared more than 8%. Notably, the crypto has touched a high of $0.06977 in the last 30 days.
Meanwhile, the recent post on X’s official account has ignited market speculations, with numerous users believing it may have a positive impact on Dogecoin’s future performance. Notably, Dogecoin’s integration on X could be a game changer for the meme coin, while the meme coin enthusiasts have been buzzing with anticipation since Elon Musk started its support for Dogecoin.
Now, this new post is just another fuel to the hyped-up talks of X adopting DOGE for payment options. However, an official announcement is yet to be made.
Meanwhile, in another update, Dogecoin’s creator, Billy Markus, who is also referred to as “Shibetoshi Nakamoto” within the community, made an enigmatic post with the message “number go up.”
Although it is unclear whether Markus was responding to recent DOGE price movements or simply sharing another playful message with the community, his post has ignited conversations and speculations among crypto enthusiasts.