Dogecoin (DOGE) Rallies 8% Following Elon Musk's X Money April Launch Confirmation

Key Takeaways

Table of Contents

DOGE price surged over 8% following Elon Musk’s announcement of X Money’s April launch date
The X Money platform focuses exclusively on fiat transactions with no confirmed cryptocurrency features
Dogecoin reached a peak of $0.0993 before stabilizing in the $0.093–$0.099 range
Futures open interest for DOGE increased by more than 2% to $1.21 billion within a four-hour window
This price reaction continues a historical trend of DOGE responding to Musk’s X-related updates

On March 10, Elon Musk revealed that X Money, the payment functionality for his X social platform, would begin its early public rollout in April 2026. Despite the absence of any cryptocurrency features in the announcement, Dogecoin’s value climbed more than 8% in the hours that followed.

𝕏 Money early public access will launch next month
— Elon Musk (@elonmusk) March 10, 2026

The X Money service is being developed as a traditional fiat currency payment system. Its planned features include person-to-person money transfers, direct bank account connections, a debit card option, cashback incentives, and a 6% annual percentage yield on cash deposits. The company has secured Visa as a strategic partner and obtained money transmitter licenses across more than 40 U.S. states via its X Payments subsidiary.

Star Trek legend William Shatner was selected as one of the initial beta testers, a group dubbed “42ers,” and publicly shared his experience with the platform. His posts included screenshots demonstrating instant peer-to-peer payment capabilities, debit card cashback rewards, and high-yield savings options. Shatner mentioned he was eager to test X Money for routine transactions such as ordering pizza or buying groceries.

Still waiting for the @XMoney firsts: there’s pizza, burgers, tacos, haircuts, groceries…
Be clever and be the first 42ers!
— William Shatner (@WilliamShatner) March 10, 2026

With X Money, the platform positions itself as a direct rival to established payment services like PayPal, Venmo, and Cash App. The offered 6% yield on deposits significantly exceeds rates from nearly all traditional U.S. savings accounts and matches competitive money market fund offerings.

How DOGE Responded to the News

Following the announcement, Dogecoin’s price increased from a 24-hour low of $0.0903 to reach $0.0993 at its peak. Trading activity surged by 36% during the same 24-hour window, demonstrating heightened market engagement.

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Dogecoin (DOGE) Price

According to CoinGlass data, DOGE futures open interest climbed more than 2% to reach $1.21 billion within just four hours. Breaking it down by exchange, open interest increased nearly 2% on Binance, 6% on OKX, and a substantial 11% on Bybit.

$DOGE is finally waking up!
We just saw a massive 9% bounce off the $0.09 support floor today. We are officially testing that major descending resistance trendline. Flip $0.10 and the memes are back in control! 🚀 pic.twitter.com/bKAumL8xSU
— FOUR | Crypto Spaces (@X_Four_iv) March 10, 2026

This price movement represents a well-established pattern in DOGE trading behavior. Historically, whenever Musk discusses payment capabilities for X, Dogecoin experiences price increases driven by speculation about potential cryptocurrency adoption. This behavior has been documented repeatedly since 2021.

Elon Musk has openly described Dogecoin as his “favorite cryptocurrency” on multiple occasions. In 2022, Tesla temporarily enabled DOGE payments for select merchandise. Nevertheless, X’s product lead Nikita Bier stated in February that any cryptocurrency functionality on X would be limited to displaying information and providing links to third-party exchanges—not facilitating direct transactions.

What About Crypto Features for X Money?

While Musk recently shared a third-party projection that included “crypto integration” among potential future X Money capabilities, the company has issued no official statement confirming such plans.

The Dogecoin enthusiast community remains hopeful about eventual DOGE integration into the platform, despite the absence of any confirmed timeline or official announcement from X.

As of this writing, DOGE was changing hands near $0.099, positioning it as the top performer among major cryptocurrencies across both 24-hour and seven-day timeframes.