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The digital currency Dogecoin (DOGE) has recorded strong gains, recording double-digit gains over the past few hours to surpass the $0.11 level, becoming one of the best-performing digital currencies in the rising wave that has encompassed much of the digital currency market in the past 36 hours.
Many believe that Elon Musk is the main factor behind this move, albeit indirectly this time.
Without explicitly hinting at Dogecoin, Musk announced in a video clip that the X platform will soon allow users to trade stocks and digital currencies directly from within their accounts by interacting with trading codes and completing trades within the app itself.
The trial version is expected to be launched within the X Money system within a month or two.
Nikita Beer, Product Director
Considering the historical relationship between Musk and Dogecoin, it is not surprising that the currency reacted strongly to the news, gradually rising from around $0.095 to a two-week high above $0.115.
Over the past year, however, Musk has appeared more conservative in his public support of Dogecoin, especially after previous statements sparked legal controversy.
However, the momentum has spread to other memes; PEPE is up around 30% in one day, while PIPPIN continues to rise, recording impressive weekly gains of over 270%.
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