Dogecoin: Elon Musk Declares X as DOGE-Friendly


Renowned tech magnate Elon Musk has reaffirmed his support for Dogecoin (DOGE) on his social media platform X, previously known as Twitter. This endorsement led to a momentary surge in DOGE’s price by 3.25%, touching $0.064 recently. Musk’s tweets have consistently stirred investor excitement, with a remarkable 25.69 million DOGE snapped up within a mere sixty seconds of his latest post.

Musk’s vocal backing of DOGE has been an ongoing narrative, highlighted by his intention to incorporate Dogecoin into a SpaceX venture. However, his enthusiasm for the cryptocurrency has also drawn legal scrutiny. Investors filed a lawsuit against Musk, alleging insider trading after he sold $124 million worth of DOGE in April—shortly following the alteration of X’s logo to feature the DOGE mascot.

Read Also: Dogecoin Users Against Staking DOGE; Here’s Why

Anticipated Integration and Potential Price Surge

Elon Musk has previously expressed interest in enabling DOGE payments within the X platform, although a definitive timeline for this integration remains undisclosed. Nevertheless, many anticipate a significant upswing in DOGE’s value once this integration materializes. According to Altcoin Daily, DOGE could potentially surge to $1 or even $5 after becoming integrated with X.

Should DOGE reach the $1 mark post-integration, this would translate to a staggering growth rate of approximately 1487%. For instance, a $100 DOGE investment at current prices could potentially transform into $1587. Alternatively, if DOGE were to reach $5, the growth rate would be a remarkable 7836%, potentially turning the initial $100 investment into $7936.

Elon Musk’s consistent advocacy for Dogecoin, coupled with the possibility of integration with the X platform, continues to capture the attention of investors and cryptocurrency enthusiasts alike. The anticipation of potential price surges remains a topic of keen interest within the cryptocurrency community.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

Share this :