Why Dogecoin Is Soaring Today | Bitcoin

Dogecoin (DOGE 10.79%) has posted big gains over the last day of trading. The cryptocurrency’s token price was up 14.6% over the last 24 hours as of 6:15 p.m. ET Friday. Meanwhile, Bitcoin was up 1.6% over the stretch, and Ethereum was up 5%.

The crypto market has seen bullish momentum over the last day of trading, but there’s also a major coin-specific catalyst for Dogecoin’s gains. Investors are betting that X’s new payments system will be launching soon and that Dogecoin could be incorporated into the platform.

Is Dogecoin about to cash in on Elon Musk’s new payments system?

X, the social media platform formerly known as Twitter, has indicated plans to launch a payment-processing platform this year. The company is owned by Tesla CEO Elon Musk, who has been Dogecoin’s most high-profile supporter.

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