The DOGE has a tendency to record increases in its value when payment-related developments occur at Elon Musk-owned companies such as X or Tesla. Similarly, Floki, named after Musk's dog, serves as a speculative option among mid-sized traders.

Both dog-themed tokens, Dogecoin (DOGE) and Floki (FLOKI), have seen a temporary increase of up to 12% in their value, driven by heightened adoption expectations within crypto communities due to a @xpayments profile on social app X.

Over the weekend, trading volumes for both tokens increased by 200%, as per data from CoinGecko, despite overall crypto volumes remaining relatively low and minimal volatility. At the same time, futures contracts tied to these tokens saw an increase in open interest, reaching a combined total of $430 million from $200 million, indicating an increase in speculative bets.

The prevailing speculation revolves around the possibility of advertisers using DOGE for a variety of purposes, including payments for Twitter ads. Simon Schaber, CBDO at Spool DAO, noted that similar outbreaks occurred when Tesla announced the acceptance of DOGE as a form of payment. The speculation extends to Musk's companies and holding companies adopting cryptocurrencies, following Tesla's lead.

Since its inception on Friday, the @xpayments account has attracted more than 100,000 followers.
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