Unexpectedly, Dogecoin (DOGE) has defied the general downward trend and become an unsung hero. As of right now, Dogecoin is up 1.68% over the last day to trade at $0.08101, according to the most recent data available on CoinMarketCap.
The trade volume increased to $416.5 million during the same period, a noteworthy 68.9% increase. Notably, Dogecoin is notably in the green zone when other prominent cryptocurrencies are in the red.
Dogecoin’s resilience amid market turbulence
Investors and fans alike are fascinated by Dogecoin’s resiliency while the cryptocurrency sector undergoes a significant downturn. Dogecoin’s positive momentum is mostly due to Elon Musk, the owner of X, and his ambitious initiative, X Payments. Musk has had a significant role in influencing market mood. He is well-known for his interest in cryptocurrencies, particularly DOGE and Bitcoin (BTC).
X, formerly known as Twitter, has officially launched its X Payments account, marking its first step into the banking industry. Musk’s purchase of licences for money operations in several U.S. states is evidence of his dedication to this project. Musk offered some fascinating details about X’s future in a recent interview, calling it the best possible reimagining of what PayPal ought to have been.
Musk’s statement that the much awaited X payments feature will launch later this year was one of the conversation’s main takeaways. This information has definitely increased enthusiasm for Dogecoin since it presents the cryptocurrency as a key component of Elon Musk’s ambitious plan for the all-encompassing X platform.
The ongoing DOGE drive is the reason why the emotion surrounding this enterprise has not subsided.
Binance boosts Dogecoin’s fortunes
A possible contributing element to Dogecoin’s strong signal might be its recent inclusion in Binance’s USDC-margined futures. For Dogecoin fans, Binance’s decision to incorporate Dogecoin into its USDC-margined futures has increased liquidity and significantly diversified their trading possibilities.
In addition, Dogecoin’s engaged community members haven’t stopped supporting it. Dogecoin’s sense of belonging and mission has helped it weather storms and maintain its popularity among cryptocurrency aficionados.
