Dogecoin price spikes 10% after Elon Musk announces X Money

Dogecoin (DOGE) price had spiked over 10% after Elon Musk announced early public access to X Money next, before retracing significantly to trade about $0.09195 on Wednesday, March 11, 2026.

The flagship dog-themed memecoin saw its market cap gain 8.14% in the past 24 hours to hover about $14.1 billion at press time, based on data from crypto data platform CoinMarketCap. Additionally, its daily average traded volume spiked by more than 108% to reach $2.2 billion at press time.

The mainstream demand for Dogecoin initially surged after Musk announced that X money early public access will launch in April, 2026. However, after climbing as high as $15.3 billion DOGE’s market cap is now at $14 billion, with Dogecoin trading at $0.09195 down 3.5% at press time.

Why is Dogecoin price bullish on X Money launch?

DOGE price gained bullish sentiment on the X Money launch due to the sheer magnitude of mainstream adoption. Furthermore, Musk has over the years reiterated his support for Dogecoin with his family of unicorns led by SpaceX.

In the past, Musk has 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.

With the platform boasting more than 586 million Monthly Active Users (MAU), as of February based on a report from Resourcera, the potential integration of X Money with Dogecoin could have an intense impact on the memecoin’s global adoption.

DOGE price prediction 2026

Dogecoin’s exponential demand catalyzed by potential integration with X Money could fuel the memecoin’s next bull wave. 

Finally, DOGE price has been forming a similar fractal pattern to its 2024 bottom consolidation before its massive surge, according to trading expert TATrader_Alan. However, crypto traders should remain vigilant of a potential sell-the-news impact on DOGE next month.