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 that a reality check is needed before launching Doji rockets to the moon.
Dogecoin disciples rejoice at insider's tweet
The Doge community was sparked when “DogeDesigner,” an insider with X and Dogecoin connections, tweeted about the possibility of launching X Payments in late 2024 with support from DOGE. This unleashed a wave of enthusiasm, with both cryptocurrency 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
– Doge Designer (@cb_doge) May 17, 2024
But Musk remains silent: Will Doge see the light of X?
Doge-X marriage has been rumored before. Similar murmurs have inspired the cryptocurrency community — especially those sporting Doge avatars — to respond time and time again with unwavering optimism.
But Musk, the X-wielding, doji-loving ruler, has remained noticeably silent. He did not specifically reject DOGE's listing, but it is still difficult to get official confirmation from him.
The lack of confirmation does not dampen the morale of the Doge's army. Their unwavering optimism is fueled by X Corporation recently obtaining licenses allowing it to process cryptocurrency payments in select US states. This interesting move has the cryptocurrency world rife with speculation, with many interpreting it as a potential first step towards adopting DOGE for payments.
A reality check is needed
Despite the excitement, a dose of reality is needed. First, Musk has repeatedly and categorically stated that neither X nor any of his projects plan to create their own cryptocurrencies. This stance was a direct response to scams targeting unsuspecting investors and rumors about a future “X-Coin.” The SEC's ongoing scrutiny of altcoins likely played a role in this decision.
Second, even with X Payments accepting cryptocurrencies, there is no guarantee that DOGE will be the currency of choice. Many established cryptocurrencies with larger market caps and broader adoption may be more attractive options for X.
The undying hope of the Doge army
These obstacles did not seem to bother the Doge's army, famous for its unwavering loyalty. They are holding out hope that DOGE will be accepted as payment on X due to Musk's previous love of the joke coin. If their continued optimism pays off, or if their hopes of getting a Doge-powered X collapse, it remains to be seen.
Will X Payments become the launching pad for Dogecoin's next journey, or will it be another case of Doge's dreams deferred? The answer lies with Musk and the ever-evolving landscape of cryptocurrency regulation.
Featured image from @ComicBook/X, chart from TradingView
