DOGE Will Become a Payment Tool in X But When?

DOGE (Dogecoin), the world's largest meme coin, has the potential to be more than just entertainment. Social media platform X is likely to include it as one of the payment methods. The Dogecoin community has been debating when this move will happen, with some anticipating it is likely to happen later this year.

Elon Musk Buys DOGE

Elon Musk, who bought Dogecoin for $44 billion, has pushed the X as "the app of everything." Payments are at the center of this revolution. All of the services Musk wants to bring to X, including pick-up, food delivery, and content delivery, will depend on efficient payments.

Coupled with Musk's love for Dogecoin, it's easy to see why the entire community is so enthusiastic. The tech billionaire, who still holds a lot of DOGE, continues to express his support for the token, including backing it for Tesla payments.

Check the Crypto Market Today:

When Can DOGE Payments Be Made? 

The debate now turns to when this will happen. Some believe that this could happen as soon as this year. They point to X Payment's three new licenses, which expand its ability to process payments to 19 states in the US.

However, there are also those who are more realistic and see this integration as a long-term target. For now, X Payments will launch with traditional payment methods, which are more secure and officially regulated globally. Once it gains traction and reaches a certain threshold number, crypto will come next, with DOGE at the forefront of crypto integration.

The Financial Times reported this last year, with two unnamed sources stating that Musk wants to launch fiat payments first before exploring crypto, though the Tesla CEO has yet to make a statement.

Also Read How to Buy Crypto:

Still dimly lit

As one X user noted, "Whether they will integrate Dogecoin immediately after obtaining the license, or whether they will start with fiat payments first and introduce crypto later, may depend on the readiness of the system and logistics."

Other users involved in a minor capacity with Dogecoin's development agree that fiat will probably go first before crypto comes in. He wrote:

"I think you're right (about fiat first and crypto later), this is also what I think. I expect the crypto part of payment X will also come from collaborations with multiple exchanges or brokerage platforms: but who knows? We'll see."

The current price of DOGE is $0.047877, with a market cap of approximately $597.59 million. If we convert the value of US dollars into rupiah, the current price of DOGE is around Rp. 712 per DOGE. Although the price has fluctuated, sentiment towards DOGE's price prediction appears bullish, with the Fear & Greed Index showing a value of 75 (Greed).

Conclusion 

DOGE has potential as a payment method on social media platform X. Although the timing is uncertain, the community and interest in Dogecoin continues to grow. With the development of the ecosystem and the latest trends, the price of DOGE can be in the range of Rp. 3,266 to Rp. 3554 per DOGE in the last 24 hours, on Monday 1/04/2024.

On the other hand, keep in mind that crypto investment always involves risk, and investment decisions should be based on careful research and a deep understanding of the market.

Check Crypto Price Today:

How to Buy Dogecoin (DOGE) on Bittime

You can buy and sell Dogecoin (DOGE) in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.

Dogecoin (DOGE) is available on Bittime with the DOGE/IDR market pair. To be able to buy DOGE IDR on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.

Learn the complete guide on how to buy Dogecoin (DOGE) on Bittime.

Monitor the price chart movements of Dogecoin (DOGE), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

Slerf, Memecoin-Losing Memecoin Before Launch and Memecoin Trends, Potential Profit or Loss?

Bitcoin Survives, Dogecoin Soars

Ripple (XRP), a Global Payment Solution in Cryptocurrency

DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.