If X launches its own stablecoin, the most directly impacted asset is Dogecoin (DOGE). DOGE is long viewed as an Elon Musk proxy; if X chooses to issue a new coin rather than integrating DOGE, it could be bearish for DOGE (or bullish if DOGE plays a role, but the uncertainty creates high volatility). Additionally, this move would signal deep integration of Web3 payments by a major social platform, offering a minor sentiment boost to the broader crypto market (BTC), but the primary shock would be on DOGE and any potential payment partner tokens.