**Dogecoin (DOGE) Soars 11% After X Introduces Payment Account**

**Summary:**
Dogecoin (DOGE) has experienced a significant 11% surge following the launch of X’s dedicated payment account, sparking interest from both market analysts and investors. The meme coin, known for its celebrity endorsements and particularly Elon Musk’s support, has a market cap of $12.38 billion.

**Behind DOGE’s Rise:**
The recent surge in DOGE’s price is linked to X’s introduction of a dedicated account for its X Payments initiative, aiming to enhance user utility and expand commerce opportunities. Elon Musk’s X Payments project, part of his vision to position X as an “everything app,” has fueled speculation about DOGE’s potential role in this payment system upon its launch.

**Dogecoin Price Overview**
At present, DOGE is trading at $0.0861, reflecting gains of 7.4% in the last seven and fourteen days. Despite its prominence, the monthly chart indicates a 7.5% decline, with minimal growth over the year and a Year-To-Date (YTD) gain of 0.6%.

**FAQs**

1. **What has caused Dogecoin’s recent surge?**
– Dogecoin’s 11% surge is attributed to the launch of X’s dedicated payment account, which has sparked investor interest and speculation about the coin’s potential role in X’s payment system.

2. **What is X’s Payments initiative?**
– X’s Payments initiative is a peer-to-peer payment service introduced to enhance user utility and create new opportunities for commerce.

3. **What is the current market cap and daily trading volume of Dogecoin?**
– Dogecoin boasts a market cap of $12.38 billion and a daily trading volume of approximately $1.17 billion.

4. **Is there official confirmation that Dogecoin will be adopted by X’s payment system?**
– There are no official statements indicating that X Payments will adopt DOGE as a settlement option upon its expected launch in mid-2024. Other cryptocurrencies also being considered for X’s e-commerce feature include XRP and Stellar (XLM).

5. **What is Elon Musk’s involvement with Dogecoin?**
– Elon Musk has been a vocal supporter of Dogecoin since 2019 and has hinted at potential use cases for the cryptocurrency, including Tesla’s acceptance of DOGE as a payment method.

6. **What is the current price of Dogecoin and its recent price movements?**
– As of now, DOGE is trading at $0.0861, reflecting gains of 7.4% in the last seven and fourteen days. However, on the monthly chart, DOGE has experienced a 7.5% decline.

7. **Where can I find reliable investment advice regarding Dogecoin and other cryptocurrencies?**
– It is advisable to conduct thorough research and seek professional financial advice before making any investment decisions, considering the inherent risks associated with investing. Use information provided on this website at your own risk.