Rose

X Payments

Dogecoin

<p>Popular doggy-themed cryptocurrency, <a href="https://bitcoinist.com/crypto-when-dogecoin-does-this/">Dogecoin,</a> has recently experienced an exponential surge in its price value. Despite its previously <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-growth-holder-activity/" rel="nofollow noopener" target="_blank">sluggish price momentum</a>, Dogecoin witnessed a massive $800 million increase in open interest over the weekend. Interestingly, a recent development indicates that <a href="https://bitcoinist.com/elon-musk-makes-another-cryptic-tweet/">Elon Musk</a>’s X Payment LLC has greatly contributed to this price pump.&nbsp;</p> 
<h2 id="why-dogecoin-price-rose-35">Why Dogecoin Price Rose 35%</h2> 
<p>Over the past 72 hours, the price of Dogecoin witnessed a 35% increase in its value, recording an impressive weekly high of $0.17 on Saturday.&nbsp; According to <a href="https://app.santiment.net/projects/dogecoin" rel="nofollow noopener" target="_blank">data</a> from Santiment, a crypto analytics platform, the cryptocurrency has also witnessed a <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-open-interest-record-2/" rel="nofollow noopener" target="_blank">significant rise in open interest</a>, skyrocketing by a remarkable $800 million in value.&nbsp;</p> 
<p>This <a href="https://bitcoinist.com/dogecoin-surges-x-payments-secures-3-new-licenses/">massive price surge</a> has been attributed to a recent development in Elon Musk’s payment subsidiary, <a href="https://www.newsbtc.com/news/dogecoin/x-payment-integration-dogecoin-included/" rel="nofollow noopener" target="_blank">X Payments LLC</a>. According to reports, X Payments has successfully expanded its operational capabilities to three new states. The platform has secured money transmitter licenses in Mexico, Oregon and Illinois.</p> 
<p>Following the disclosure of this news, the sentiment surrounding Dogecoin had transformed, as <a href="https://bitcoinist.com/x-payments-dogecoin-integration/">speculations</a> about the <a href="https://bitcoinist.com/shiba-inu-outperform-dogecoin/">meme coin</a> potentially becoming a preferred payment method for the X Payments began to spread like wildfire. At the time of writing the cryptocurrency is trading at $0.172, reflecting a 14.27% price increase over the past seven days, according to CoinMarketCap.&nbsp;</p> 
<p>Interestingly, Dogecoin has already been integrated as a <a href="https://bitcoinist.com/dogecoin-gains-momentum-as-musk-hints-at-future-tesla-payments-is-doge-going-to-the-moon/">payment method within Musk’s Tesla</a> merchandise store. In 2023, the SpaceX CEO also teased about the <a href="https://bitcoinist.com/dogecoin-x-peer-to-peer-payments/">possibility of DOGE payments on X</a> (formerly Twitter), pushing the broader crypto community on edge as they anticipated the potential inclusion of <a href="https://bitcoinist.com/elon-musk-tesla-dogecoin/">DOGE in the payments ecosystem.</a>&nbsp;</p> 
<p>Presently, as X Payments expands its services and possibly prepares for a launch, speculations are growing stronger, driving up <a href="https://www.newsbtc.com/analysis/doge/dogecoin-price-support-0-1220/" rel="nofollow noopener" target="_blank">Dogecoin’s price</a> amidst the rising interest in the cryptocurrency’s potential integration with X Payments.</p> 
<h2 id="doge-whales-on-the-move">DOGE Whales On The Move</h2> 
<p>A recent <a href="https://x.com/ali_charts/status/1770798858718560581?s=46" rel="nofollow" target="_blank">report</a> has revealed that an <a href="https://bitcoinist.com/big-money-eyes-dogecoin-whale-activity-explodes-600/">anonymous Whale</a> made a substantial purchase of 25 million DOGE tokens, valued at $3.75 million, within the last 72 hours. The timing of this acquisition is particularly noteworthy as it aligns with the recent rise in Dogecoin’s price and open interest over the weekend.&nbsp;</p> 
<p>The <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-whales-buying-spree/" rel="nofollow noopener" target="_blank">Whale’s purchase</a> also coincides with X Payments expansion efforts into new regions, suggesting a potential shift in market sentiment as investors are now showing an <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-open-interest-record/" rel="nofollow noopener" target="_blank">elevated interest in DOGE</a>. If Dogecoin becomes integrated as a payment currency within X Payments, the cryptocurrency could witness a significant boost in adoption, potentially attracting more whales and new investors and <a href="https://bitcoinist.com/crypto-pundit-predicts-price-surge-for-dogecoin/">triggering a substantial price surge.</a></p> 
<p><img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/yPABAshh/" alt="Dogecoin price chart from Tradingview.com" width="3286" height="1530"></p>

Here’s Why The Dogecoin Price Surged Over The Weekend

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