Doge Blows Fire after Elon Musk’s Tweet

Dogecoin increased on Saturday amid rumors that Elon Musk would add payments to his X social media platform—formerly Twitter.

The world’s richest man shared a screengrab of podcaster Joe Rogan’s profile early on Friday. A dollar sign is seen next to the celebrity’s profile picture in the photo, which raises the possibility that a new feature will be unveiled soon. Musk merely said, “True,” in response to a post made by an X user on Friday highlighting the enigmatic new widget that isn’t visible to users on the platform.
Nima Owji, whose bio identifies him as an “independent app researcher,” wrote, “I speculate that the ‘$’ button is used for sending money to someone as part of X Payments.”.
The price of Dogecoin has increased by 20% over the last day and is currently trading at $0.46 ON Binance

The pioneer meme coin has risen 24% in the last week after slowing down after a spectacular rally off Musk’s remarks and Bitcoin’s new all-time highs. A group of engineers created Dogecoin in 2013 as a lighthearted homage to the Shiba Inu dog meme known as “doge.”.
The altcoin intended to make fun of the numerous altcoins that entered the cryptocurrency market after Bitcoin gained traction.

Bitcoin is still trying to hit the long-awaited $100,000 mark after several close calls over the past day, but other altcoins, like Dogecoin, have shown exponential value growth Dogecoin places it in seventh place in the market valuation pegged at $68 billion.

Elon Musk, a fan of Dodge, started posting its memes, which led to the asset class gaining a cult following and seeing an increase in value. It hit a record high of $0.73 in 2021, but then posted a sharp decline in value
it has started to pump once more as Musk talks about his preference for the coin and his willingness to take a new role in President-elect Donald Trump’s new administration in the Department of Governmental Efficiency,