Interest in DOGE futures is on the rise, approaching record levels, thanks to growing confidence in Donald Trump’s chances of winning the upcoming presidential election. Traders are seeing DOGE as an election-related play, fueled by Elon Musk’s public support for the Republican candidate. There is speculation that Musk may establish a “Department of Government Efficiency” (D.O.G.E.), which has further boosted interest in DOGE-denominated futures.
Since Sunday, DOGE-denominated futures have surged by 33%, reaching 8 billion tokens during European morning hours on Tuesday. According to @theunipcs, a prominent account on social media platform X, Elon Musk’s influence is turning the concept of a “Department of Government Efficiency” into reality and linking it to DOGE in a unique way.
Should Trump emerge victorious in the election next week, @theunipcs predicts that dogecoin will experience an even more dramatic surge. This alignment of Musk’s support for Trump and the potential impact on DOGE futures has captured the attention of traders and investors alike, driving up interest in this cryptocurrency.
