Dogecoin Back In Focus As Elon Musk Says X Money Is ‘Coming Soon’

Elon Musk has once more pushed his “every thing app” imaginative and prescient for X into the highlight, telling customers {that a} native funds layer, X Money, is now near launch – and reigniting questions over whether or not Dogecoin, Bitcoin or crypto at giant shall be a part of it.

In a put up on Nov. 13, Musk announced a significant technical milestone for the platform: “X simply rolled out a whole new communications stack with encrypted messages, audio/video calls and file switch. X Money comes out quickly. Join us if you wish to construct cool merchandise. X would be the every thing app.”

Will X Money Integrate Dogecoin?

That line caps a multi-year effort to rebuild X’s back-end as a super-app backbone. Earlier, Musk described the new XChat layer as “constructed on Rust with (Bitcoin fashion) encryption, entire new structure,” tying the messaging stack explicitly to the cryptographic mannequin popularized by Bitcoin, despite the fact that no on-chain element has been introduced.

On the funds aspect, X Money is not only a idea. The service has entered restricted beta, providing peer-to-peer transfers, a digital pockets and financial institution or debit-card connections, with settlement dealt with by means of Visa Direct. X has secured dozens of US money-transmitter licences, although key jurisdictions akin to New York stay pending, which continues to delay a full nationwide rollout.

So far, all official product descriptions put X Money firmly within the fiat camp at launch: a Venmo- or Cash App-style pockets inside X, backed by Visa, targeted on conventional cost rails. Neither Musk nor X has dedicated publicly to integrating crypto within the first launch.

Yet the crypto signals around Musk have intensified in parallel with the X Money messaging. On Oct. 14, in response to a dialogue about financial debasement, he declared:“Bitcoin is predicated on power: you’ll be able to difficulty faux fiat forex, and each authorities in historical past has completed so, however it’s unattainable to faux power.”

The comment was learn broadly as a renewed endorsement of Bitcoin’s “onerous cash” properties after years of relative silence, and it aligns with Musk’s broader narrative that fiat currencies are structurally fragile.

Earlier this month, Musk has as soon as once more put Dogecoin back at the centre of social-media attention. On Nov. 3, Dogecoin group member DogeDesigner reposted the slogan “No Highs, No Lows, Only DOGE” alongside a screenshot of Musk’s 2021 vow that “SpaceX goes to place a literal Dogecoin on the literal moon.” Musk replied with simply two phrases: “It’s time.”

That minimalist replace was sufficient to ignite buying and selling frenzies in DOGE-linked devices. A DOGE-1 memecoin tied to the lunar mission surged roughly 300–350% within the days after the put up, whereas derivatives volumes in Dogecoin itself spiked by orders of magnitude on some venues, at the same time as spot value motion remained extra muted.

The sample is acquainted. For years, Dogecoin has traded as a high-beta guess on Musk’s product roadmap and memes. Double-digit intraday strikes in DOGE following earlier Musk posts akin to “One phrase: Doge” or his “folks’s crypto” feedback have been widespread for years.

Crucially, nonetheless, there may be nonetheless no specific hyperlink between Dogecoin and X Money in any official communication. X’s funds documentation and third-party reporting constantly describe a product that launches as a fiat pockets and P2P system. The crypto layer – whether or not BTC, Dogecoin or stablecoins – stays within the realm of chance fairly than affirmation.

Musk has, if something, narrowed the scope in a single necessary respect. In response to waves of “X token” rumours, he has repeatedly insisted that none of his corporations will difficulty a local coin, writing in late 2023 that “none of my corporations will ever create a crypto token.” That means any eventual crypto help inside X Money would nearly actually depend on current property fairly than a proprietary token.

Taken collectively, Musk’s current posts sketch a transparent however incomplete image. On one aspect is a quickly evolving infrastructure: encrypted messaging in Rust, a Visa-backed pockets, and money-transmitter licences throughout a lot of the US. On the opposite is an more and more loud set of ideological and cultural alerts: Bitcoin as an energy-anchored antidote to “faux fiat,” and Dogecoin because the meme-driven transactional asset most intently tied to Musk’s public persona.

At press time, Dogecoin traded at $0.16325.