Dogecoin and Floki Inu Prices Spike on Rumors of Possible X App Crypto Payments
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Dogecoin (DOGE) and Floki Inu (FLOKI) prices rose over 10% amid speculation that social media app X may allow crypto payments, specifically DOGE.
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Trading volumes for both DOGE and FLOKI spiked 200% over the weekend despite relatively low broader crypto volumes.
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Open interest in futures tracking both tokens rose to $430 million from $200 million, signaling rising speculative bets.
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DOGE tends to rally on any payments-related developments involving Elon Musk's companies like X or Tesla, which already accepts DOGE.
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The @xpayments account on X fueling the speculation has garnered over 100,000 followers since its setup late Friday.