- Elon Musk just released a cryptic post on social media, teasing the transformation of X into “the everything app” that many have been anticipating.
- Some believe this could catalyze a pump on Dogecoin (DOGE) price.
In a short X post, the billionaire entrepreneur said, “The circle will be complete.” He didn’t elaborate on it but it came with a four-second video hinting a new X logo together with the present one flanking the caption “The Everything App.”
Interestingly, the one who made the graphics on the post of Musk was the pseudonymous DogeDesigner on X. Could this be a sign of things to come not just for X but also for Dogecoin?
DOGE Now
Dogecoin has declined since achieving a record high of $0.20 this month—its highest since 2021. As of this writing at 9:00 AM UTC and a few minutes after Musk’s teaser on X, it remains at $0.17 with a 1.65% drop in the 24-hour frame. The token’s trading volume is also down by 24% as $2.27 billion worth of DOGE was transacted between wallets and exchanges. Meanwhile, the market cap of its 143.61 billion circulating supply has stagnated at the $24.41 billion mark.
So far, either the market is not yet picking up the hype made by Musk and DogeDesigner or the crypto community is still cautiously awaiting further confirmation of what the two recently teased.
Nevertheless, Dogecoin has been on a roll as of late due to the rallying prices of Bitcoin (BTC) ahead of its fourth halving phase and overall positive sentiment toward the crypto market this year. The favorable outlook for the token is magnified by the upcoming listing of DOGE futures on the Coinbase platform by April 1 and the possible support of the new X payments system for the cryptocurrency.
Despite its lack of significant movements today, Dogecoin remains 16% up on the seven-day chart with a whopping 100% gain in the one-month range and a 129% increase in the one-year bracket.
X Payments Status
The Payments account with the handle @XPayments on X still lacks any posts amid these events. However, the upcoming payments platform already gained approval from 22 US states, including:
- Arizona
- Arkansas
- Florida
- Georgia
- Iowa
- Kansas
- Maryland
- Michigan
- Mississippi
- Missouri
- Nebraska
- Nevada
- New Hampshire
- New Mexico
- Pennsylvania
- Ohio
- Oregon
- Rhode Island
- South Dakota
- Utah
- Virginia
- Wyoming
This is expected to include a crypto payments feature using Bitcoin and Ethereum (ETH). And since Musk, a.k.a. “The DOGEfather,” is known as a major supporter of Dogecoin, there’s a strong likelihood that the dog-themed meme coin will not be left out.