Dogecoin is now down almost 90% from the all-time high price of $0.7316. More than five years have passed since DOGE was last priced at $0.7. Fans expected the memecoin’s price to increase after SpaceX’s historic IPO. After all, the rocket manufacturer accepts DOGE in its products. DOGE has not only not reacted to SpaceX’s IPO but its price is also dropping. What’s Next for Dogecoin? And can Elon Musk’s X Money finally save the memecoin?
Dogecoin: Can Elon Musk’s X Money Rescue it?
Elon Musk publicly declared his love for Dogecoin. Musk said that DOGE was his favorite cryptocurrency, and that the lighthearted nature of the project appealed to him. It would also be ironic for the coin that began as a joke to become the most important cryptocurrency. Musk went as far to enable DOGE payments on Tesla and SpaceX goods. Under President Trump, he even created the Department Of Government Efficiency (also known as D.O.G.E.).
Musk’s X platform for social media is now expected to extend its X Money usage cases. Musk announced in June this year, that X Money was soon to be accessible by a wider range of users. A tentative date wasn’t given. Nikita Biel, the head of product at X, was not included. had said in April They may be able to do something about the crypto sector, as it has had a difficult year. Given Musk’s past with Dogecoin, many expect it to be part of X Money.
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X Money could be used to accept Dogecoins (DOGE). This would make the memecoin available to millions more users. It would also increase investor confidence. This could possibly push DOGE above the $1 threshold.
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Source: watcher.guru
