Dogecoin Surges Amid Speculation of X Payment Integration and Strong Technical Indicators
Brief Overview: Dogecoin (DOGE) has experienced a notable surge in the past 72 hours, driven by strong technical indicators and renewed speculation about its potential integration into Elon Musk’s X (formerly Twitter) payment system. The meme-inspired cryptocurrency has risen by approximately 6.7% over the past week, stabilizing above the crucial $0.10 support level.
US and International News:
• Speculation on X Integration: There has been significant speculation within the Dogecoin community regarding its potential use in X’s upcoming payment system. Prominent community members on X have highlighted that X’s payment branch recently received more licenses in the U.S. , fueling rumors that DOGE could be used as a payment method on the platform. This speculation has driven a surge in trading volume, which reached $7 billion in the last 24 hours, up from $3 billion earlier in the week​ ( markets.businessinsider.com ).
• Market Sentiment and Whale Activity: DOGE has also seen increased activity among large holders, or whales, with over 1,500 significant transactions recorded on August 5th. Although this activity briefly declined, it has recently rebounded, signaling renewed interest from major investors. This trend has contributed to the positive market sentiment surrounding DOGE​ ( AMBCrypto ).
Read More: https://onthenode.com/cryptocurrency/dogecoin-surges-amid-speculation-of-x-payment-integration-and-strong-technical-indicators
Brief Overview: Dogecoin (DOGE) has experienced a notable surge in the past 72 hours, driven by strong technical indicators and renewed speculation about its potential integration into Elon Musk’s X (formerly Twitter) payment system. The meme-inspired cryptocurrency has risen by approximately 6.7% over the past week, stabilizing above the crucial $0.10 support level.
US and International News:
• Speculation on X Integration: There has been significant speculation within the Dogecoin community regarding its potential use in X’s upcoming payment system. Prominent community members on X have highlighted that X’s payment branch recently received more licenses in the U.S. , fueling rumors that DOGE could be used as a payment method on the platform. This speculation has driven a surge in trading volume, which reached $7 billion in the last 24 hours, up from $3 billion earlier in the week​ ( markets.businessinsider.com ).
• Market Sentiment and Whale Activity: DOGE has also seen increased activity among large holders, or whales, with over 1,500 significant transactions recorded on August 5th. Although this activity briefly declined, it has recently rebounded, signaling renewed interest from major investors. This trend has contributed to the positive market sentiment surrounding DOGE​ ( AMBCrypto ).
Read More: https://onthenode.com/cryptocurrency/dogecoin-surges-amid-speculation-of-x-payment-integration-and-strong-technical-indicators
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