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Dogecoin Bumps 10% on X Payments Speculation, DOGE Futures Traders Lose $10M

Dogecoin (DOGE) rose for the second consecutive day as speculations of the memecoin playing a bigger role on the newly-rebranded X platform, fuelled the rally. Data from CoinGecko shows that DOGE surged as much as 10% to over 7.7 cents in the past 24 hours, with trading volumes at $2.3 billion. Most of these volumes came from the South Korean exchange UpBit – known for attracting speculative plays – against the Korean won trading pair. Futures traders lost nearly $10 million betting on and against dogecoin’s price movements, as per the data from Coinglass. Analysts say Twitter, which rebranded to everything app X on Monday, could soon accept doge tokens in the coming months.

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