Dogecoin (DOGE USD) rose 5% after new speculation arose around Elon Musk’s long-awaited X Payments service. The excitement came when Musk posted a screenshot of Joe Rogan’s X profile, which featured a dollar icon that was different from the platform’s usual tipping system. One user quickly pointed out that this could be a sign of a new money transfer feature, prompting Musk to respond with a simple “true.”

Musk’s continued influence on Dogecoin

This is not the first time Musk has influenced the price of Dogecoin. The memecoin has long responded to Musk’s comments, especially those related to his ventures such as X (formerly Twitter). Musk has often expressed his intention to transform X into an “everything app,” which could include payments between users. X Payments LLC has already acquired money-sending licenses in most US states, although New York remains an exception.

According to Coin Bureaucrypto enthusiasts are now speculating that Dogecoin could be integrated into X Payments once it is operational. After all, Musk’s electric car company, Tesla (TSLA), already accepts DOGE payments for merchandise, making it likely that the token could be used for transactions on Musk’s influence continues. to create excitement in the market.

At the time of writing, Dogecoin is trading at $0.3996, up 275% in the past three months.