Dogecoin surged 10% in the past few hours after Elon Musk announced that X Money will be opened to the public next month. What a move—right away, DOGE jumped and trading volume skyrocketed to $2.2 billion in a single day. Its market cap briefly touched $15.3 billion, but has now fallen again to around $14.1 billion. The price is currently $0.10, up 0.86% over the last 24 hours.

So why is Dogecoin rising? Because people think Musk will add DOGE to X Money as a payment option. Musk has long supported this memecoin and has previously said he wants to use it at Tesla and SpaceX. Now, X Money wants to become something like America’s WeChat, so if it’s truly integrated with doge.x or X Money’s payment system, global adoption of Dogecoin could explode.

X itself already has money transfer licenses from 40+ states in the US and has 586 million active monthly users. The potential for doge.x to become part of a payment ecosystem that big really has people excited. But you still have to be careful—if bad news comes out later, the price could drop fast. In fact, DOGE is forming a pattern similar to 2024 before the big rally, so this could be the start of the next rally—or it could just be a temporary pump.