In recent months, Musk has discussed creating a “Department of Government Efficiency,” or D.O.G.E., for short, to shift government spending toward more efficiency.
This has fueled expectations among traders that there might be more discussion about “DOGE” in the mainstream media and in our trading circles. This sparked interest and interest in dogecoin, as first analyzed by CoinDesk in mid-autumn.
Trump has already said he would hire Musk to be his boss. “Government Efficiency Commission” if he wins a second term as US president, behind the BBC
Meanwhile Futures open contracts tracked by dogecoin are approaching record highs since April, with a 33% increase in our open contracts since last week. That now stands at more than 8.33 billion DOGE, or just over $1.8 billion. According to the actual price.
It’s not just dogecoin that’s on the rise, the D.O.G.E memecoin parody on Ethereum is up more than 600% since the beginning of fall. And it ended with a relatively small market cap of just over $160 million on Sunday.