Elon Musk is teasing "great news" for Dogecoin as he shared an update on X Money, the new payment and banking app. The app has now entered limited beta testing ahead of its 2025 launch.

To operate the app, X Money has secured 41 U.S. money transmitter licenses and is completing the process for more in other key markets. The app is being built with “extreme care” due to the importance of handling user funds and data responsibly.

This isn’t any ordinary payment app. It’s a crucial step in Musk’s broader vision for the X ecosystem, which began with the rebranding of Twitter in October 2022.

After buying the social media giant for $44 billion, Musk has been transforming it into an everything app, similar to WeChat in China. X is now developing its own payment service, banking service, and cryptocurrency exchange.

Musk’s interest in crypto is no secret, especially where Dogecoin is concerned. He frequently shares updates and memes related to the memecoin.

Musk's Latest DOGE News: What We Know So Far

Recently, Musk revealed that X will be getting a cryptocurrency exchange. This follows rumors that began in April. The news came during a discussion about the difficulties faced by crypto startups in obtaining banking licenses.

Musk stated that X will not apply for a U.S. banking charter but is instead focusing on creating the best exchange. He added that they are making good progress and aim to launch by early next year.

Musk also shared his thoughts on the role of AI in macroeconomic analysis. He believes that AI can quickly process vast amounts of data to identify emerging trends, which is crucial for making informed investment decisions in today’s rapidly changing economic landscape.

Moreover, Musk highlighted the importance of having fun in the investment journey. He suggests that investors should choose assets and projects that they enjoy, as this intrinsic motivation can lead to greater commitment and resilience, especially during market downswings.

Dogecoin Price Prediction: Is Another Crash Coming?

Dogecoin price dropped 11% on May 30, hitting $0.204 – its lowest since May 10. The slide was sparked by $21 million in long liquidations and a major whale sell-off.

Over two days, wallets holding 100 million to 1 billion DOGE sold 60 million tokens for $12 million. This sell-off coincided with a broader market downturn that saw over $700 million wiped out in 24 hours, according to the latest DOGE news.

The drop pushed Dogecoin out of the three-week range between $0.21 and $0.24. That range had been holding as traders awaited market direction following Bitcoin’s recent highs.

Now, the 20-day EMA has crossed below the 200-day EMA, confirming a bearish trend. Meanwhile, trading volume surged by 50%, highlighting strong selling pressure.

On the Awesome Oscillator, we can observe consistent red bars, indicating that bears still maintain control. If the slide continues, the next key support at $0.17 might be reached. This level is crucial as it could serve as a needed reset point before any shot at $1.

Furthermore, whale behavior suggests more potential downside for Dogecoin’s price prediction. These large holders typically sell ahead of or during crashes and only return to buy when the bottom is near. As long as there is no rebound in buying activity, Dogecoin might keep sliding.

Elon Musk Teases ‘Great News’ As X Money Enters Beta

Elon Musk might soon share some great news for Dogecoin fans as he keeps dropping hints about the memecoin’s role in his new venture.

Musk just revealed that X Money, his new payment and banking app, has now entered limited beta testing. Set for a 2025 launch, the app already holds 41 U.S. money transmitter licenses and is completing the process for more in other key markets.

The app is being built with “extreme care” due to the importance of handling user funds and data responsibly.

“We’re applying for licenses in every country and hope to have very broad global coverage by early next year,” Musk said of the app, which will offer money transfers, crypto exchange, and banking services.

This isn’t any ordinary payment app. It’s a crucial step in Musk’s broader vision for the X ecosystem, which began with the rebranding of Twitter in October 2022. After buying the social media giant for $44 billion, Musk has been transforming it into an everything app, similar to WeChat in China.

X is now developing its own payment service, banking service, and cryptocurrency exchange.

Musk’s interest in crypto is no secret, especially where Dogecoin is concerned. He frequently shares updates and memes related to the memecoin.

Earlier this month, Musk said that X