Social media platform X, under the leadership of billionaire Elon Musk, has announced its plans for 2024, which include the implementation of long-awaited payment features. This announcement has led to a surge in Dogecoin (DOGE) prices. The platform’s achievements in 2023 included the launch of an AI-powered search assistant named Grok and an ad revenue-sharing program.

As part of its 2024 innovation plans, X is focusing on the introduction of a peer-to-peer payment system. This move is expected to enhance commerce opportunities on the platform, providing users with an all-in-one solution. X Business has emphasized the platform’s commitment to revolutionize 2024 with groundbreaking products and services, reshaping the way users connect, communicate, and transact.

The announcement of X’s upcoming peer-to-peer payments system has sparked optimism within the community, hinting at the possible integration of Dogecoin payments. Notable Dogecoin influencer @TOPDOGE007 expressed expectations that Dogecoin payments might be incorporated into the platform following the launch of X’s P2P service.

In 2023, X acquired multiple licenses to function as a payments facilitator across several U.S. states. Elon Musk has expressed his vision of making X the preferred platform for transactions, eliminating the need for users to possess a traditional bank account. Musk also stated that he holds a lot of Dogecoins in his holdings.

Given Musk’s advocacy for Dogecoin and his previous discussions about incorporating DOGE payments on X, community expectations align with the anticipation that the meme coin will find utility as a payment method on the platform. Alex Lewis, Chief Technology Officer (CTO) of MyDoge Wallet, shares this sentiment, believing that Dogecoin payments will indeed become available on X.

With growing anticipation, the price of DOGE has already experienced a 7.62% increase in the last 24 hours, reaching a trading value of $0.084 at the time of writing.

Despite recent challenges, a crypto analyst known as CryptoCheck suggests that Dogecoin may have reached a favorable buying zone. After examining various time frames, including the four-hour and weekly charts, the analyst identifies the potential for a bullish trend. The highlighted buy zone ranges between $0.078 and $0.084, aligning with insights from crypto analyst Skew. Skew’s analysis indicates promising risk-reward dynamics for potential investors, particularly above the $0.087 threshold.

Although Dogecoin’s attempt to reclaim the 200-day exponential moving average (EMA) at $0.09 faced obstacles, indicating buyer dominance at higher prices, there is still notable buyer interest around the $0.081 level.

Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

This News Article was automatically generated by Bob the Bot (AI)

Information Details
Geography North America
Sentiment positive
Relevance Score 1
People Skew, Elon Musk, Alex Lewis, @TOPDOGE007, CryptoCheck
Companies X Platform, Crypto News Flash, MyDoge Wallet
Currencies Dogecoin, united states dollar
Securities None

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