Dogecoin and Floki coin have risen due to rumors of acceptance by X payment

According to CoinDesk, the rise of Dogecoin (DOGE) and Floki Inu (FLOKI) on social app X's @xpayments account has sparked expectations in the crypto community, with gains reaching up to 12% at one point. CoinGecko data shows that despite relatively low overall trading volume in the cryptocurrency market, the trading volume for both tokens surged by 200% over the weekend. Additionally, open interest in futures contracts tracking these tokens increased from $200 million to $430 million, indicating an increase in bets. The open interest for DOGE skyrocketed on Saturday. Dogecoin and Floki Inu often experience surges due to developments related to payment options from companies under Elon Musk's umbrella such as X or Tesla. Official news regarding whether DOGE will become a payment option has not been announced yet, but such speculation is not entirely unfounded. In April 2023, Musk hinted at DOGE payments on Twitter and proposed including Dogecoin as one of the payment options for Twitter Blue. Musk's electric car company Tesla already accepts DOGE as payment for purchases at Tesla stores.