Dogecoin (DOGE), Floki Inu (FLOKI) soar on Musk’s X digital payments speculations

While the crypto market remained dull over the past week, with Bitcoin (BTC) dropping over 4% on its seven-day chart, meme coins Dogecoin (DOGE) and Floki Inu (FLOKI) recorded notable uptrends. Speculations about Elon Musk’s X adopting crypto payments contributed to the price upswings.

Dogecoin rose from its weekly low of $0.074 to $0.090 on Sunday. Also, Floki Inu’s price climbed to a seven-day high yesterday (January 21) as it touched $0.000035.

DOGE & FLOKI 7D Charts on Coinmarketcap

Musk and X influence

Tesla’s CEO has been a crucial figure in the cryptocurrency market. His actions often catalyze massive movements within the digital assets sector. For instance, Musk propelled Dogecoin to ATHs in 2021 with positive posts about the project, and the alt reacted to developments at Tesla and X.

Meanwhile, Floki Inu draws its name from Elon Musk’s dog. The meme token experience increased popularity as they attract low- and mid-cap crypto traders. Meanwhile, enthusiasts trust the latest @xpayments profile update underscores Musk’s focus on digital coins.

While neither Musk nor X is yet to officially confirm crypto payments endorsement, past events and Musk’s stance on Dogecoin amplify the possibilities. Moreover, the expected P2P transaction model on X propels these rumors.

Anticipated crypto integration on X

Elon Musk and X have hinted that cryptocurrencies, especially Dogecoin, could be crucial for the social media platform. DOGE proponents perceived X’s October 2023 cryptic meme as a sign of upcoming integration. Furthermore, Tesla merchandise accepts Dogecoin payments.

Meanwhile, the recent DOGE and FLOKI value increase shows how influential individuals like Elon Musk and market speculations can influence the crypto sector. While it remains unknown whether X will announce crypto payments, the meme coins’ surging acceptance and trading volumes suggest a developing and lively market for digital assets.

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