Cryptocurrency markets have been experiencing significant rises recently. In particular, Donald Trump’s victory in the US elections and the FED’s interest rate cut are among the reasons for this rise. While many altcoin prices have seen significant increases, the price of Dogecoin (DOGE), the most popular name of memecoins, has also risen.

Investors associate Dogecoin with Elon Musk and expect big rises in DOGE after Trump’s victory, which Musk strongly supported. Dogecoin, which has experienced significant price volatility in the last few days, rose more than 7% during the day.

Price Expectations for Dogecoin Ahead of the Elections

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Recently, Musk hinted at the possibilities of integration by sharing an animation showing the legacy payments platform merging with a social media app. “The circle will be complete,” he said cryptically. In January, X launched a dedicated payment account after securing money transfer licenses in the US. Both SpaceX and Tesla already accept Dogecoin payments, and Musk’s previous endorsements have spurred price increases.

Musk, who is reportedly a hodler of Dogecoin, has touted its potential as a leading online currency, emphasizing its simplicity and efficiency. He even envisioned it as the official currency for a human colony on Mars, joking that “the most fun outcome is often the most likely.” Such statements, along with his high-profile endorsement on Saturday Night Live, propelled Dogecoin to a record price of over $0.70 in 2021.

Dogecoin’s recent rise coincides with a broader crypto market rally, highlighted by Bitcoin hitting an all-time high this month. Amid speculation that Elon Musk may include Dogecoin in X, Dogecoin’s price has doubled in the past month, contributing to the cryptocurrency market surpassing $2.5 trillion. The tech giant, known for his affinity for Dogecoin, has previously outlined his vision of an “everything app” spanning messaging, marketplaces and online payments.

Recently, Musk hinted at the possibilities of integration by sharing an animation showing the legacy payments platform merging with a social media app. “The circle will be complete,” he said cryptically. In January, X launched a dedicated payment account after securing money transfer licenses in the US. Both SpaceX and Tesla already accept Dogecoin payments, and Musk’s previous endorsements have spurred price increases.

Musk, who is reportedly a hodler of Dogecoin, has touted its potential as a leading online currency, emphasizing its simplicity and efficiency. He even envisioned it as the official currency for a human colony on Mars, joking that “the most fun outcome is often the most likely.” Such statements, along with his high-profile endorsement on Saturday Night Live, propelled Dogecoin to a record price of over $0.70 in 2021.

Dogecoin’s recent rise coincides with a broader crypto market rally, highlighted by Bitcoin hitting an all-time high this month.

The post Dogecoin Doubles as Rumors Swirl of Elon Musk’s X Integration appeared first on Coin Engineer.

Upon inspection of the site’s code, it appears that there are many new codes related to DOGE integration. However, this change was not officially announced and is currently only coded information on the website. Making payments with DOGE is not possible at the moment.

This is not the first time Tesla has accepted Dogecoin as a form of payment. When Tesla previously added the feature to make payments for a children’s ATV with Dogecoin, the price of DOGE significantly increased. But, the price dropped the next day. Tesla’s journey with Cybertruck has been a long one. The first production candidate Cybertruck was completed in July, around four years after its first reveal and two years after production was planned to start. Last year, CEO Elon Musk cited supply-chain problems that affected component supply as a factor in delaying Cybertruck production until 2023.

After four years of delays and missteps, the Tesla Cybertruck has finally arrived. Musk hosted a delivery event at the company’s factory in Austin, Texas where he highlighted the vehicle’s towing capabilities, bulletproof doors, and straight-line speed. A few customers at the event received their Cybertrucks, but it was a bit difficult to open the door. Following the event, the company posted updated details about the vehicle’s features, price, and more on its website.

Elon Musk previously accepted payments for Tesla cars in Bitcoin, but he had discontinued this payment method, citing environmental concerns. Tesla’s acceptance of Dogecoin for Cybertruck could result in a significant increase in the DOGE price. However, it’s hard to predict how the price will react before Tesla announces its DOGE payments officially.

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