{"id":9240,"date":"2024-03-25T17:23:42","date_gmt":"2024-03-25T17:23:42","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/heres-why-the-dogecoin-price-surged-over-the-weekend\/"},"modified":"2024-03-25T17:23:42","modified_gmt":"2024-03-25T17:23:42","slug":"heres-why-the-dogecoin-price-surged-over-the-weekend","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/heres-why-the-dogecoin-price-surged-over-the-weekend\/","title":{"rendered":"Here\u2019s Why The Dogecoin Price Surged Over The Weekend"},"content":{"rendered":"

Popular doggy-themed cryptocurrency, Dogecoin, has recently experienced an exponential surge in its price value. Despite its previously sluggish price momentum, Dogecoin witnessed a massive $800 million increase in open interest over the weekend. Interestingly, a recent development indicates that Elon Musk\u2019s X Payment LLC has greatly contributed to this price pump.\u00a0<\/p>\n

<\/span>Why Dogecoin Price Rose 35%<\/span><\/h2>\n

Over the past 72 hours, the price of Dogecoin witnessed a 35% increase in its value, recording an impressive weekly high of $0.17 on Saturday.\u00a0 According to data<\/a> from Santiment, a crypto analytics platform, the cryptocurrency has also witnessed a significant rise in open interest, skyrocketing by a remarkable $800 million in value.\u00a0<\/p>\n

This massive price surge has been attributed to a recent development in Elon Musk\u2019s payment subsidiary, X Payments LLC. According to reports, X Payments has successfully expanded its operational capabilities to three new states. The platform has secured money transmitter licenses in Mexico, Oregon and Illinois.<\/p>\n

Following the disclosure of this news, the sentiment surrounding Dogecoin had transformed, as speculations about the meme coin potentially becoming a preferred payment method for the X Payments began to spread like wildfire. At the time of writing the cryptocurrency is trading at $0.172, reflecting a 14.27% price increase over the past seven days, according to CoinMarketCap.\u00a0<\/p>\n

Interestingly, Dogecoin has already been integrated as a payment method within Musk\u2019s Tesla merchandise store. In 2023, the SpaceX CEO also teased about the possibility of DOGE payments on X (formerly Twitter), pushing the broader crypto community on edge as they anticipated the potential inclusion of DOGE in the payments ecosystem.\u00a0<\/p>\n

Presently, as X Payments expands its services and possibly prepares for a launch, speculations are growing stronger, driving up Dogecoin\u2019s price amidst the rising interest in the cryptocurrency\u2019s potential integration with X Payments.<\/p>\n

<\/span>DOGE Whales On The Move<\/span><\/h2>\n

A recent report<\/a> has revealed that an anonymous Whale made a substantial purchase of 25 million DOGE tokens, valued at $3.75 million, within the last 72 hours. The timing of this acquisition is particularly noteworthy as it aligns with the recent rise in Dogecoin\u2019s price and open interest over the weekend.\u00a0<\/p>\n

The Whale\u2019s purchase also coincides with X Payments expansion efforts into new regions, suggesting a potential shift in market sentiment as investors are now showing an elevated interest in DOGE. If Dogecoin becomes integrated as a payment currency within X Payments, the cryptocurrency could witness a significant boost in adoption, potentially attracting more whales and new investors and triggering a substantial price surge.<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Popular doggy-themed cryptocurrency, Dogecoin, has recently experienced an exponential surge in its price value. Despite its previously sluggish price momentum, Dogecoin witnessed a massive $800 million increase in open interest over the weekend. Interestingly, a recent development indicates that Elon Musk\u2019s X Payment LLC has greatly contributed to this price pump.\u00a0 Why Dogecoin Price Rose […]<\/p>\n","protected":false},"author":1,"featured_media":9241,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Here\u2019s Why The Dogecoin Price Surged Over The Weekend - Bitrabo","description":"Popular doggy-themed cryptocurrency, Dogecoin, has recently experienced an exponential surge in its price value. Despite its previously sluggish price momentum"},"footnotes":""},"categories":[316],"tags":[461,682,467,2804,2805],"class_list":["post-9240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-dogecoin","tag-heres","tag-price","tag-surged","tag-weekend"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/9240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=9240"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/9240\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/9241"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=9240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=9240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=9240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}