The popularity and active growth of the Dogecoin meme currency are once again in the crosshairs of crypto investors. The recent rise in the price of DOGE shows the hidden potential of the cryptocurrency that has been trending on social media platforms.
On October 25, social network X published a skeptical post about Dogecoin, which led to various speculations and comments from members of the DOGE community and the entire crypto market, Coingape reported.
Interestingly, the post does not contain any additional information. Community members speculate that Company X, under Musk's leadership, intends to focus its power and influence on the launch of Dogecoin.
This is not the first time that Elon Musk, who has always been a supporter of cryptocurrencies, especially Dogecoin, has tried to speculate on their value. Previously, this led to spikes in the price of the meme token, which quickly stabilized due to unfounded rumors.
Musk has stated in interviews that DOGE has potential as an alternative payment method. However, as no concrete plans for its use in payments were presented, no changes were made. Dogecoin fans, however, took Musk's statements with optimism.
The Tesla CEO's comments triggered the growth of Dogecoin, which is recovering from an earlier downtrend.
At the time of writing, Dogecoin is trading at $0.065747.
Elon Musk's particular attitude towards cryptocurrencies has long been known, especially towards Dogecoin. Recent statements have once again reinforced indications of his growing interest in the meme coin and possible consideration by the X team.
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