Bitcoin (BTC) and altcoins continue to rise Elon Musk’s favorite Dogecoin (DOGE) With its rise, it differentiated itself positively from the market.
Elon Musk and Trump DOGE While the ministry’s efforts positively affected the Dogecoin price, interest in DOGE futures skyrocketed.
According to the data, interest in Dogecoin futures has approached all-time highs since April, with open interest rising 33% since Sunday to 8 billion tokens. On a stablecoin basis, DOGE bets jumped from $850 million to $1.3 billion.
When open interest increases with rising prices, it indicates new money is entering the market and there is a strengthening upward trend.
Interest in Dogecoin futures is fueled by DOGE ministry Donald Trumpthe possibility of being part of the management of and DOGEIt is rising rapidly thanks to the revival of commercial interest in .
The increase in Dogecoin price is also attributed to Elon Musk’s support of Trump, the increased likelihood of Trump winning, Trump’s promise to include Musk in a government efficiency commission if re-elected, and the potential for the establishment of the Department of Government Efficiency (DOGE).
The user named “theunipcs”, who is known for his altcoin transactions on X and is an influential investor in the market, evaluated the increase in interest in DOGE futures on Coindesk.
“Elon Musk is making the ‘Department of Government Efficiency’ idea a reality and can somehow tie it to DOGE.
If Trump wins after the US elections next week, I expect an even more parabolic move in Dogecoin because it becomes certain that the DOGE department will be established.
“There will likely be a months-long delay between Trump winning and his inauguration, and establishing such a department would provide a solid trading opportunity.”
Dogecoin (DOGE), which has increased by 15.9% in the last 24 hours, continues to be traded at $ 0.164 at the time of writing.
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/dogecoine-doge-elon-musk-ve-trump-destegi-uzun-suredir-gorulmeyen-bir-olay-yasandi/
