Dogecoin: Elon Musk Says X is Dog-Friendly

Elon Musk, a tech billionaire, said that his social media site X, which used to be called Twitter, is an excellent place to use Dogecoin (DOGE). Because of what Musk said, the price of DOGE quickly increased by 3.25 percent, hitting $0.064 earlier today.

If you’re a Dog, X is the place to be. https://t.co/CBC9p3yjBP pic.twitter.com/RvGJZJHuBy

— Maye Musk (@mayemusk) August 22, 2023

Investors are already upset about Musk’s tweet, which is what they usually do. After Musk’s tweet, 25.69 million DOGE were bought in just one minute.

Musk has talked a lot about how much he likes DOGE. He had even shown plans for a Dogecoin-themed project for SpaceX, the company he runs for space travel. On the other hand, Musk’s backing for DOGE has gotten him into some tight spots.

Investors sued the millionaire because they said he used inside information to make money. The claimants say that in April, Musk sold DOGE for $124 million. This happened right after he changed the image of X, which was then called Twitter, to the DOGE mascot.

Dogecoin to hit $1 after X integration?

Musk previously mentioned adding Dogecoin (DOGE) payments to the X platform. We have yet to have a rough idea of when the change might happen. Still, many people think the price of DOGE will rise when it does. Altcoin Daily says that after DOGE is added to X, it could hit $1 or even $5.

Getting to $1 would mean the growth rate was about 1487%. If DOGE goes up to $1, a trader who bought $100 worth of DOGE at the current price would get back $1587. On the other hand, if it reached $5, that would mean it had grown by 7836%. If DOGE gets to $5, the $100 investment, in this case, would be worth $7,936.