The meme cryptocurrency Dogecoin (DOGE) recently reached its weekly peak following the introduction of the "XPayments" account on X (previously known as Twitter), which quickly gained over 100,000 followers.

DOGE's value increased by 12.8% within nine hours from late January 20, reaching a week-high of $0.08978 in the early hours of January 21.

Since then, its value has dropped by about 4% and is now trading at $0.08330.

The surge in DOGE's value seems to be linked to speculation among traders that it might be included in XPayments' services.

This speculation is partly because Elon Musk, the owner of the site, has occasionally mentioned DOGE. Many X users have been hopeful that Musk would integrate DOGE into the platform, given his cryptic posts and profile updates.

Musk has previously enabled DOGE payments for Tesla’s merchandise and briefly changed Twitter’s logo to Dogecoin's after acquiring the platform in April 2023, which led to a 22% increase in DOGE’s price.

In December 2023, Musk stated that he expects payment features on X to be available by mid-2024. In the same year, the company also applied for money transmitter licenses in several U.S. states.

Sources:

https://cointelegraph.com/news/dogecoin-hits-weekly-high-after-x-payments-account-elon-musk

https://twitter.com/Helloimmorgan/status/1683607928169742336

https://twitter.com/itsALLrisky/status/1748801007910613264

https://coinmarketcap.com/currencies/dogecoin/