Dogecoin became the top-performing major cryptocurrency over the past day after Elon Musk announced that X Money will debut in April. The memecoin reached a daily high of nearly 10 cents and slightly dropped to 9 cents on Tuesday afternoon, remaining the biggest gainer among digital assets with a market value above $10 billion.

Over the past week, Dogecoin also showed the best performance among major coins, rising 6% since March 3. Musk wrote on his platform Tuesday that early public access to X Money will launch next month, drawing strong interest from investors and the crypto community worldwide.

Although Musk did not directly mention Dogecoin or crypto, he previously called the memecoin his favorite coin. Dogecoin has often spiked after Musk’s statements about X becoming a payments app, and there is speculation the coin could be integrated for transactions on the platform as it is suitable for fast and low-cost payments.

In 2022, Tesla already started accepting Dogecoin along with Bitcoin for merchandise payments. In February, Nikita Bier, head of product at X, announced crypto trading tools would launch on the platform via Smart Cashtags, and Musk emphasized that he wants X to become an “everything app,” where users can make payments and manage daily life.