Dogecoin is experiencing another surge, largely due to an announcement from social media platform X, previously known as Twitter. The platform has revealed its plans to implement a long-awaited payments system, which is expected to significantly impact Dogecoin’s price. The new system is set to go live in 2024.
In a post by X Business, the company outlined its achievements in 2023, following its acquisition by billionaire Elon Musk in late 2022. These achievements include the launch of an AI-powered search assistant named Grok and an ad revenue-sharing program, which has been popular among creators on the platform.
Looking ahead to 2024, X plans to introduce a peer-to-peer payment system for its users. This move is aimed at expanding commerce opportunities on the platform, allowing users to conduct all their activities in one place. The post stated, “X is set to revolutionize 2024 with groundbreaking products and services that will reshape how we connect, communicate, and transact.”
The announcement of the upcoming peer-to-peer payments system has sparked optimism that Dogecoin payments will be integrated into the platform. Dogecoin influencer @TOPDOGE007 expressed this sentiment, stating they “wouldn’t be surprised if we see Dogecoin payments incorporated.”
In 2023, X obtained multiple licenses to facilitate payments across several states in the United States. Elon Musk has previously expressed his intention to make X a preferred platform for payments, eliminating the need for users to have a bank account to conduct transactions. Given Musk’s support for Dogecoin and his past discussions about integrating Dogecoin payments on X, it is expected that the meme coin will be used for payments on the platform.
Alex Lewis, Chief Technology Officer (CTO) of the MyDoge Wallet, also believes that Dogecoin payments will be available on X. Lewis cites X’s application for licenses to allow users to hold a balance as an indication of what’s to come. Consequently, X users may soon be able to hold a Dogecoin balance alongside a dollar balance.
The anticipation of these developments has already had a positive impact on Dogecoin’s price. At the time of writing, the cryptocurrency has seen a 7.62% increase in the last 24 hours, trading at $0.084.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Elon Musk, Alex Lewis |
| Companies | MyDoge Wallet, Tradingview.com, X |
| Currencies | united states dollar, Dogecoin |
| Securities | None |
