Dogecoin price surged more than 10% after Elon Musk announced that early public access to X Money will launch in April 2026, sparking renewed speculation about the memecoin’s potential role in the platform’s payment ecosystem. Following the announcement, DOGE experienced a sharp spike in trading activity and price momentum. The memecoin’s 24-hour trading volume jumped more than 108% to $2.2 billion, while its market capitalization briefly climbed to $15.3 billion, according to data from CoinMarketCap. However, the rally proved short-lived.
By Wednesday, March 11, Dogecoin had retraced part of its gains and was trading around $0.09195, with its market capitalization settling near $14.1 billion at press time. The surge in DOGE demand followed Musk’s confirmation that X Money will enter early public access next month, marking a major step in his plan to transform X into a fully integrated financial platform. Although Musk did not explicitly mention Dogecoin in the announcement, traders quickly linked the development to the memecoin due to his long-standing support for the cryptocurrency. 𝕏 Money early public access will launch next month— Elon Musk (@elonmusk) March 10, 2026
Over the years, Musk has repeatedly endorsed Dogecoin and previously hinted at the possibility of using it for payments across his business ecosystem, including Tesla and SpaceX. Musk has also stated that the main goal of purchasing X for over $40 billion was to turn it into an everything app similar to WeChat in China. Already, X has obtained money transmitter licenses from more than 40 states in the U.S. to seamlessly launch X Money. Dogecoin’s exponential demand catalyzed by potential integration with X Money could fuel the memecoin’s next bull wave.
However, crypto traders should remain vigilant of a potential sell-the-news impact on DOGE next month. Investors priced in DOGE-driven demand as Elon Musk outlines early access to X Money next month and its potential payments integration. Dogecoin price jumped on Elon Musk’s X Money reveal, with 24-hour volume surging and the meme coin briefly hitting a multi-billion-dollar market cap before easing.
Dogecoin rose over 10% after Elon Musk announced that X Money will enter early public access in April 2026, reigniting speculation about the memecoin’s role in the platform’s payments ecosystem. The move coincided with a surge in trading activity, with 24-hour volume climbing more than 108% to about $2.2 billion and the market cap briefly touching $15.3 billion. The rally proved short-lived, as DOGE retraced part of its gains and traded near $0.092 on March 11, with the market capitalization around $14.1 billion at press time. Traders linked the surge to Musk’s confirmation of early access for X Money, underscoring his broader plan to turn X into a fully integrated financial platform despite the lack of an explicit DOGE mention in the announcement.
X Money is progressing toward early public access next month, a step seen as central to Musk’s strategy to build an everything app akin to WeChat. The platform has already secured money transmitter licenses from more than 40 U.S. states to enable X Money, signaling infrastructure progress behind the potential payments integration. Dogecoin’s renewed demand could fuel another bull cycle if X Money gains traction with DOGE users; however, traders should remain mindful of a possible sell-the-news effect as the timeline approaches.
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