Dogecoin Pumps 10% Following Elon Musk's New Tweet About a Payment System

The world's largest memecoin is up again. Following an incredible performance in November, gaining over 190% in value since the start of the month

The world's largest memecoin is up again. Following an incredible performance in November, gaining over 190% in value since the start of the month — Dogecoin is up again today, collecting even more gains and reaching its highest price since 2021.

At the time of writing, DOGE trades at $0.4503, with a daily peak of $0.4772 according to CoinMarketCap. Over the last 24 hours, the currency gained a whopping 10.44% in value, adding up to the 223% growth this month.

Since the U.S. election on November 5th — Dogecoin has been one of the cryptocurrencies that gained the most from Donald Trump's victory, particularly due to the Republican's close ties with Elon Musk during the presidential campaign.

The reason why the first dog-inspired crypto is up by over 10% in value today — November 23 — is because of a new Tweet from Elon Musk. Earlier today, the X owner tweeted a screenshot of Joe Rogan's X account, highlighting a dollar sign button added to it.

Many speculated that Musk could be hinting at a new payment system implemented on his social media platform. A couple of moments later, Elon replied to a Tweet confirming suspicion about a new payment system.

For over a year now the South African entrepreneur had been hinting at the development of a payment platform native to X. Even though little has been shared yet — many believe that this new platform will likely offer crypto payment services as well.

Following the news arrive Dogecoin pumped to its +10% surge on this day. While no confirmations have been made about if the former Twitter would introduce $DOGE as a payment option, if it did it would certainly generate a lot of interest and utility to the memecoin.