Musk Announces X Money Launch in April, DOGE Surges 4.2%

On March 10th, Elon Musk, CEO of X platform (formerly Twitter), announced that its new financial feature, X Money, will begin early public testing in April. This feature aims to transform X into a comprehensive platform integrating social networking, payments, and financial services, allowing users to bind bank accounts, conduct peer-to-peer transfers, and pay bills in the future. X Money will feature a built-in custodial wallet and collaborate with payment giant Visa, operating with over 40 U.S. state-level financial licenses. The initial phase will be based on fiat currency, with plans to gradually integrate cryptocurrency assets. Users can also enjoy an annualized yield of up to 6% on their balance and receive cash back rewards through physical or virtual debit cards. Although Musk has repeatedly mentioned that X will become the "central hub for all financial transactions," the official announcement has not explicitly stated that Dogecoin (DOGE) will be directly integrated into the X Money system. However, given Musk's long-term personal holdings of DOGE, BTC, and ETH, and his repeated public expressions of support for DOGE, the market generally expects the coin to become one of the crypto assets supported by the platform in the future. At the same time, some users and observers have raised concerns about the platform's fund control mechanisms. Some worry that if an account is banned for speech, its associated funds may be frozen, sparking discussions about financial freedom and the boundaries of platform power. Following the announcement, the price of DOGE rose accordingly. As of press time, DOGE was priced at $0.09479, with a single-day increase of 4.16%. Technically, if the price holds the key support level of $0.090 USD, it is expected to challenge the resistance range of $0.0950–$0.0972 USD; conversely, if it breaks below the support, it may fall to around $0.088 USD.