Dogecoin (DOGE) and Floki (FLOKI) are riding a new wave of investor enthusiasm with reports of a potential integration into Musk’s companies like X and Tesla that have sparked trading activity. Over the weekend, trading volumes for both tokens soared by 200%, with futures tracking these tokens witnessing a jump in open interest to $430 million.
The community’s excitement hinges on the possibility of DOGE being used for payments on platforms linked to Musk, such as Twitter. Simon Schaber of Spool DAO highlights that tokens like DOGE see an uptick whenever Musk’s ventures flirt with crypto.
Consequently, the @xpayments account’s rapid growth to over 100,000 followers since its launch has further fueled these speculations. However, it’s essential to note that the broader crypto market remains less volatile, suggesting a focused interest in these specific tokens.
As the crypto community eagerly awaits more concrete steps from Musk’s enterprises, Dogecoin and Floki remain at the center of these speculative waves, demonstrating the significant impact of high-profile endorsements in the cryptocurrency world.
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