Dogecoin surges more than 8% today as Elon Musk announces early public access of X Money payments service in April. The Dogecoin community reacts and analysts recommend going long on DOGE due to potential integration with X Money.
Elon Musk’s Timeline for X Money Beta
Elon Musk, in an X post on March 10, confirmed that early public access to X Money will launch next month. This indicates major progress in Musk’s vision of turning the platform into an “everything app.”
X platform launched X Money beta access through Star Trek actor William Shatner. The “42ers” were the initial group of users testing the X Money payments service. Shatner shared screenshots of services such as instant P2P money transfers, cashback on debit card purchases, and yield savings on cash balances.
The X Money payment service developments mark Elon Musk’s long-term vision to enter the fintech sector after securing money transmitter licenses across the United States. X Money will compete directly with PayPal, Venmo, and Cash App in the peer-to-peer payment space.
The Dogecoin community and William Shatner also reacted to Elon Musk’s early public access to X Money. Shatner said he is still waiting for the X Money first transactions such as pizza, groceries, and haircuts. While crypto integration is not available in an early launch, the Dogecoin community anticipates DOGE integration soon.
Dogecoin Surges More Than 8%
DOGE price jumped by more than 8% amid buzz around the X Money public access launch. The Dogecoin community highlighted Elon Musk’s long-standing support for Dogecoin, fueling expectations that DOGE could get integrated into X Money.
Dogecoin in 1-Hour TimeframeDogecoin is trading 8% higher at $0.099, with a 24-hour low and high of $0.0903 and $0.0993, respectively. Furthermore, trading volume has increased by 36% in the last 24 hours, indicating a rise in interest among traders. Trump’s comments on Iran talks possible despite Iran ruling out negotiations also helped boost upside momentum.
CoinGlass data showed massive buying in the derivatives market in the last few hours. At the time of writing, the total DOGE futures open interest jumped more than 2% to $1.21 billion in the last 4 hours. DOGE futures OI on Binance, OKX, and Bybit climbed almost 2%, 6% and 11%, respectively.
Source: https://coingape.com/dogecoin-rockets-elon-musk-confirms-x-money-early-public-access-launch-in-april/
