In October 2022, Elon Musk spent $44 billion to acquire social media platform Twitter. Subsequently, the serial entrepreneur took the company private and rebranded it to X. Next month, the platform is set to launch X Money as Musk continues his ambitions to build an “everything app.”
Now, Dogecoin (DOGE +1.39%) finds itself at the center of new speculation as the meme coin has long ridden hype waves connected to Musk’s influence. With X rolling out a payments feature, could this update finally deliver the utility and price surge that investors have been waiting for?
Why has Dogecoin traded sideways for over a year?
The primary tailwind behind Dogecoin’s last surge was the Trump administration’s creation of the Department of Government Efficiency (DOGE) –…
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