The tech company xAI has chosen Dogecoin as the preferred cryptocurrency for its AI platform, Grok. This decision has been significantly influenced by tech mogul Elon Musk's endorsement. Musk's recent support for Dogecoin, demonstrated by a now-deleted tweet that attracted 2.5 million likes, has highlighted the digital currency's strong presence on social media platforms.
Dogecoin, known for its origin as a meme and subsequent growth into a mainstream cryptocurrency, currently stands as the tenth largest by market capitalization, with a valuation of $11.6B. The selection of Dogecoin by xAI is a strategic move that aligns with the company's plans to integrate in-app payment services within Grok by mid-2024. This integration could potentially include Dogecoin.
Historically, Dogecoin's market price has experienced notable surges following Musk's endorsements. The anticipation of its incorporation into Grok's payment services could similarly drive up its value, as users and investors respond to the increased utility and visibility of the cryptocurrency.
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