Dogecoin (DOGE) price started a sudden rally and rose 5% in just minutes.
DOGE, which was around $0.079 before the rise, is trading at $0.08230 at the time of writing this article.
The reason for the rally was the confirmation that the @XPayments account belonging to X Payments, which will create the payment system on Elon Musk's company X, belongs to the X management.
As Bitcoinsistemi.com, we previously informed you that the @XPayments account was transferred to X management yesterday. The same news also included hints that DOGE might be affected by this development.
With the confirmation that a payment system will be established on X, the price of Dogecoin, Elon Musk's favorite altcoin, began to rise. DOGE fans hope that Musk will also use DOGE in his payment system and seem to be speculating in that direction.
However, Musk recently stated that he did not think much about cryptocurrencies.
*This is not investment advice.