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- Elon Musk’s new governmental role as head of D.O.G.E. could legitimize Dogecoin, offering real-world use cases and boosting its value.
- Integration of Dogecoin into X Money’s payment platform could drive mainstream adoption, elevating Dogecoin as a household cryptocurrency.
Elon Musk’s influence on Dogecoin consistently disrupts the crypto market. His unique connection to the cryptocurrency, combined with his new political role as head of the Department of Government Efficiency (D.O.G.E.) under Trump’s administration, could mark a turning point for Dogecoin’s future. With Musk officially taking charge on January 20, 2025, the crypto community is buzzing with speculation.
Musk has been vocal about his admiration for Dogecoin, frequently tweeting about it and hinting at integrating it into real-world applications. Now, with the added weight of his governmental position, Dogecoin might gain unprecedented legitimacy. Musk could employ the cryptocurrency for official transactions, offering a real-world use case that could significantly bolster its value.
Meanwhile, the DOGE community has noted Musk’s habit of linking his personal ventures to the meme coin. Should he decide to make Dogecoin a key part of government operations, that move alone could set the stage for a price explosion.
A Government-Backed Token in the Works?
The possibility of Dogecoin becoming a government-backed cryptocurrency is another scenario gaining traction. With Musk and Trump at the helm—both known for their pro-crypto stances—the potential for Dogecoin to gain an official status is higher than ever. Such recognition could elevate Dogecoin from being seen as a speculative asset to a reliable, stable option for daily transactions.
Analysts argue that giving DOGE this status might result in massive adoption, pushing its price to unprecedented levels. A crypto analyst, CW, predicts the token could go from its current price of around $0.07 amidst an ascending triangle pattern.
$DOGE is starting to bounce again from the lower line of the convergence.
It is forming an ascending triangle pattern, and this wave is very likely to break through the convergence and start to rise.
The target price is the same because it did not break the previous low. The… pic.twitter.com/2DAQik1M22
— CW (@CW8900) January 14, 2025
X Money and Dogecoin Integration
Adding fuel to the speculation is Musk’s other venture, X (formerly Twitter). As X develops X Money—a payment platform designed with cryptocurrencies at its core—Dogecoin may find itself in the spotlight once again.
X Money has been making headlines in recent months as the platform secures payment transmitter licenses across the United States. Currently approved in 38 states, the service is gearing up for a nationwide launch. Linda Yaccarino, CEO of X, confirmed plans to roll out X Money this year, prompting a flurry of discussions about Dogecoin’s role in the platform.
A tech enthusiast, Aaron, recently shared a leaked code suggesting that X Money could incorporate DOGE as a primary payment option. If that happens, Dogecoin could become a household name, fueling its growth beyond expectations. American entrepreneur Alex Finn further speculated that X might launch its payment service even before securing full regulatory approval across all 50 states.
For now, all eyes are on January 20, 2025. Whether Musk’s role as head of the D.O.G.E. department ushers in a new era for Dogecoin or not, the next week will undoubtedly be critical. One thing is certain—when Musk and Dogecoin are involved, the world pays attention.
