6 months ago
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The Dogecoin army is barking with excitement after an insider hinted at the long-awaited integration of Dogecoin (DOGE) into X Payments, Elon Musk’s social media platform. However, a closer look reveals a reality check is needed before Doge rockets to the moon.
Dogecoin Disciples Rejoice At Insider’s Tweet
A spark ignited the Doge community when “DogeDesigner,” an insider with both X and Dogecoin connections, tweeted about a potential late-2024 launch of X Payments with DOGE support. This unleashed a wave of enthusiasm, with both crypto enthusiasts and regular users eager to see the meme coin take center stage on the popular platform.
𝕏 Payments 一 Later this year! pic.twitter.com/Gubhwa50sn
— DogeDesigner (@cb_doge) May 17, 2024
But Musk Remains Silent: Will Doge See The Light Of X?
The rumors of a Doge-X marriage have circulated before. Similar murmurs have inspired the crypto community—especially those sporting Doge avatars—to respond time and time again with unwavering optimism.
But Musk, the X-wielding, Doge-loving ruler, has been remarkably silent. He hasn’t specifically rejected DOGE’s inclusion, but it’s still difficult to get an official confirmation from him.
The lack of confirmation doesn’t dampen the Doge army’s spirits. Their unwavering optimism is fueled by X Corporation’s recent acquisition of licenses allowing them to process cryptocurrency payments in specific US states. This intriguing move has the crypto world abuzz with speculation, with many interpreting it as a potential first step towards embracing DOGE for payments.
A Reality Check Is Needed
Despite the excitement, a dose of reality is necessary. First, Musk has repeatedly and emphatically stated that neither X nor any of his ventures plan to create their own cryptocurrencies. This stance was a direct response to scams targeting unsuspecting investors and rumors of a future “X coin.” The ongoing scrutiny by the US Securities and Exchange Commission on altcoins likely plays a role in this decision.
DOGE price action in the last week. Source: CoinMarketCap
Second, even with X Payments accepting cryptocurrencies, there’s no guarantee DOGE will be the chosen one. Several established cryptocurrencies with larger market caps and wider adoption might be more attractive options for X.
The Doge Army’s Undying Hope
These obstacles don’t seem to bother the Doge army, which is renowned for its unshakable allegiance. They cling to the hope that DOGE will be accepted as payment on X due to Musk’s previous affection for the joke coin. If their persistent optimism pays off, or if their hopes of a Doge-powered X come crashing down, remains to be seen.
Will X Payments become the launchpad for Dogecoin’s next moonshot, or will it be another case of Doge dreams deferred? The answer lies with Musk, and with the ever-evolving landscape of cryptocurrency regulation.
Featured image from @ComicBook/X, chart from TradingView
