This Week The Dogecoin Price Reaches The Peak After Making "XPayments" Accounts On X

The price of Dogecoin jumped this week. (photo:L x @dogecoin)

JAKARTA - The price of DOGE, a well-known dog-style cryptocurrency, reached its weekly peak after the creation of a new "XPayments" account on social platform X (formerly Twitter), which has now recorded more than 100,000 followers.

DOGE rose 12.8% in a nine-hour window between the end of January 20 and reached a seven-day peak of $0.08978 in early January 21, according to data from Cointelegraph Markets Pro.

However, since then, prices have fallen by about 4% in the past day and are currently trading in the range of $0.08330.

Although the XPayments account hasn't made any shipments yet, and X hasn't confirmed exactly what payment function they're going to offer, traders seem to speculate that DOGE could be part of the offer as it's often mentioned by site owner Elon Musk.

User X has long hoped that Musk will integrate DOGE into the platform due to some mysterious posts on X and bio updates from billionaires who are often mysterious.

Musk has allowed payments with DOGE at Tesla merchandise stores and changed the Twitter logo to Dogecoin shortly after taking over the platform in April 2023, leading to a 22% DOGE price spike.

In December 2023, Musk stated that he hoped payments in X would be launched in mid-2024. In 2023, the company applied for a license to send money in several US states.