This time around, Elon Musk, the CEO of SpaceX and the world\u2019s largest manufacturer of electric vehicles, Tesla, is creating a flurry of excitement around cryptocurrencies, maybe with a particular focus on Dogecoin, the well-known parody cryptocurrency.<\/p>\n
The crypto community has taken note of Musk\u2019s recent acts since they continue to demonstrate his influence in altering the market dynamics of digital currency.<\/p>\n
The billionaire Musk, who is also the owner of the X app (formerly known as Twitter), posted on Sunday that \u201csomething special is coming soon.\u201d<\/p>\n
This tweet received a lot of positive feedback from the cryptocurrency community, especially from accounts with a Dogecoin theme.<\/p>\n
Something special coming soon<\/p>\n
\u2014 Elon Musk (@elonmusk) July 29, 2023<\/a><\/p>\n Based on Musk\u2019s repeated references to this development in the past, many people, including the influencer David Gokhstein, anticipate that X will add DOGE \u2013 the largest meme coin \u2013 as a payment option.<\/p>\n This anticipation arises from the fact that Elon Musk has previously made a number of very quiet signals that a similar action may be planned.<\/p>\n Dogecoin (DOGE) saw a stunning price increase on Friday, garnering a lot of attention in the cryptocurrency community. On that particular day, DOGE\u2019s price noticedably increased by over 10%, breaking past the $0.07 barrier mark.<\/p>\n When this article was being written, DOGE was trading at $0.08<\/a>, up 2.7% over the previous day. However, the meme coin really proved its worth on a weekly basis, rising in value by about 13% in response to Musk\u2019s post.<\/p>\n Source: Coingecko<\/a><\/p>\n This positive momentum-driven upward rise in value led to a sizable increase in the market capitalisation of the asset. The cryptocurrency\u2019s market cap increased as a result, rising by an estimated $1 billion to a new high of $10.66 billion from its previous value of $9.67 billion.<\/p>\n The reasons for this remarkable rise have been the subject of heated speculation among many members of the crypto community.<\/p>\n One of the more intriguing current theories is on the potential integration of DOGE, the disputed cryptocurrency, into the source code of Tesla\u2019s website\u2019s payment page.<\/p>\n\n Price Boom Soon?<\/strong><\/p>\n As enthusiasts and investors alike anticipate the potential effects of such a development, this notion has been spreading. The mere possibility of DOGE becoming a payment option for Tesla has sparked curiosity and led to upbeat predictions for the cryptocurrency\u2019s future.<\/p>\n If Elon Musk does truly integrate DOGE payments into his X app, Dogecoin will experience a solid increase in utility and acceptance, as well as a significant price boom.<\/p>\n (This site\u2019s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n Featured image from Getty Images<\/em><\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n This time around, Elon Musk, the CEO of SpaceX and the world\u2019s largest manufacturer of electric vehicles, Tesla, is creating a flurry of excitement around cryptocurrencies, maybe with a particular focus on Dogecoin, the well-known parody cryptocurrency.<\/p>\n The crypto community has taken note of Musk\u2019s recent acts since they continue to demonstrate his influence in altering the market dynamics of digital currency.<\/p>\n The billionaire Musk, who is also the owner of the X app (formerly known as Twitter), posted on Sunday that \u201csomething special is coming soon.\u201d<\/p>\n This tweet received a lot of positive feedback from the cryptocurrency community, especially from accounts with a Dogecoin theme.<\/p>\n Something special coming soon<\/p>\n \u2014 Elon Musk (@elonmusk) July 29, 2023<\/a><\/p>\n Based on Musk\u2019s repeated references to this development in the past, many people, including the influencer David Gokhstein, anticipate that X will add DOGE \u2013 the largest meme coin \u2013 as a payment option.<\/p>\n This anticipation arises from the fact that Elon Musk has previously made a number of very quiet signals that a similar action may be planned.<\/p>\n Dogecoin (DOGE) saw a stunning price increase on Friday, garnering a lot of attention in the cryptocurrency community. On that particular day, DOGE\u2019s price noticedably increased by over 10%, breaking past the $0.07 barrier mark.<\/p>\n When this article was being written, DOGE was trading at $0.08<\/a>, up 2.7% over the previous day. However, the meme coin really proved its worth on a weekly basis, rising in value by about 13% in response to Musk\u2019s post.<\/p>\nDogecoin Rising At $0.08<\/strong><\/h2>\n
Elon Musk Tweet Does It Again<\/strong><\/h2>\n
Dogecoin Rising At $0.08<\/strong><\/h2>\n