© Reuters
LONDON – Dogecoin (DOGE) and Floki (FLOKI) both saw a substantial increase in market activity today. Dogecoin’s value soared by 12%, while trading volumes for both cryptocurrencies increased by an impressive 200%. This rise comes alongside a notable increase in futures open interest for these tokens, which increased from $200 million to $430 million.
The increased market interest appears to be linked to social app X’s “xpayments” account, which has hinted at the potential acceptance of these cryptocurrencies. The market has always been sensitive to signals of mainstream adoption, and this hint has clearly sparked investor enthusiasm.
Elon Musk, the CEO of Tesla, has played a vital role in influencing the performance of Dogecoin in the market. Speculation around Dogecoin being integrated into X’s payment options has been fueled by its already established use for purchases at Tesla stores.
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