Elon Musk’s X platform is gearing up to become a one-stop shop for all things financial, and that could be huge for Dogecoin.
X Money: Your Financial Life, All in One Place
X is planning a major upgrade: a built-in digital wallet called “X Money.” This wallet will let users buy and sell stocks, ETFs, and cryptocurrencies—all without leaving the app. They’re partnering with Visa, and the plan is to eventually add peer-to-peer payments and e-commerce checkout features too. Think of it as having your entire financial life managed within X. They’re even exploring an X-branded debit or credit card! The US launch is expected later this year.
Dogecoin’s Big Break?
This is big news for Dogecoin. Elon Musk, Dogecoin’s biggest supporter, is behind this initiative. His past actions, from calling himself “The Dogefather” to accepting Dogecoin for Tesla merchandise, have significantly impacted the coin’s price. While he’s been quieter lately, the potential for him to boost Dogecoin again through his social media influence is very real. Even without overt promotion, X already has a feature that links to Dogecoin trading through a partner, eToro. The new wallet will streamline this process.
X’s Financial Picture
X is facing challenges, though. Advertising revenue is still down compared to before Musk’s takeover. While they’re reporting progress and predict increased revenue, it’s still a recovery in progress. Whether Musk will use his influence to pump Dogecoin again, thus indirectly boosting X’s revenue, remains to be seen. Dogecoin holders are certainly hoping he will.
Current Dogecoin Price
At the time of writing, Dogecoin is trading at $0.168. The news hasn’t had a major immediate impact on its price.