Dogecoin (DOGE) has been moving sideways throughout the month of May, just like the rest of the market. However, this could change this year.

An insider, “DogeDesigner,” tweeted about the launch of X Payments, which may include support for DOGE. The platform is expected to launch at the end of 2024.

Integration on X?

X Corporation recently obtained licenses to process crypto payments in specific US states. It is almost certain that Bitcoin (BTC) will be one of the coins that become available on the platform. This has fueled rumors that Dogecoin (DOGE) may also be accepted as a means of payment.

Elon Musk, the owner of X, has posted about the meme project several times in the past. During the 2021 bull market, his posts pushed DOGE to a new all-time high (ATH) of $0.73. However, despite the rumors, Elon Musk has still not given any confirmation about the integration of DOGE into X Payments.

The enormous potential of DOGE

After bottoming below $0.060 during the 2023 bear market, DOGE is now at $0.15, a two-year high. While this is a significant increase, the digital currency is still trading 80% lower than its 2021 all-time high (ATH), indicating that there is still plenty of upside potential.

Analysts predict rise for Dogecoin

According to analysts at AMBCRYPTO, Dogecoin could see another rise this month after the correction in April. The liquidation charts show an increase in short liquidations, suggesting that investors betting on price declines have suffered losses. This points to a possible price increase for Dogecoin in the coming weeks.

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