Dogecoin

Boost

Elon Musk

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/trump-and-musk-boost-dogecoin-prices" data-wpel-link="internal" rel="noopener noreferrer nofollow">Trump and Musk Boost Dogecoin Prices</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/development-activities-boost-dogecoin-price" data-wpel-link="internal" rel="noopener noreferrer nofollow">Dogecoin</a>, the leading <a href="https://en.bitcoinhaber.net/binance-elevates-memecoin-buzz-with-dogwifhat-wif-listing" data-wpel-link="internal" rel="noopener noreferrer nofollow">memecoin</a>, is witnessing a substantial surge in its price following recent statements by Elon Musk and former President Donald Trump. Musk’s comments regarding the term “D.O.G.E” combined with Trump’s assurance to support Musk in governmental roles have fueled increased interest in Dogecoin. The open interest in Dogecoin futures contracts has now hit 8 billion coins, approaching the peak levels seen in April, primarily driven by Trump’s popularity and his plan to create a “Department of Government Efficiency.”</p>
<h2 style="text-align: justify" id="strong-what-role-do-musk-and-trump-play-strong"><strong>What Role Do Musk and Trump Play?</strong></h2>
<p style="text-align: justify">In the past day, Dogecoin’s value skyrocketed by 15%, as reported by CoinGecko. This uptick coincided with Musk’s appearance at a Trump rally, where he utilized a Dogecoin avatar on social media platform X, further amplifying market interest.</p>
<h2 style="text-align: justify" id="strong-how-are-futures-contracts-impacted-strong"><strong>How Are Futures Contracts Impacted?</strong></h2>
<p style="text-align: justify">Recent days have seen a remarkable 33% increase in Dogecoin futures, with volumes soaring to 8 billion coins. In terms of stablecoins, these positions have escalated from $850 million to $1.3 billion. This rising open interest indicates heightened enthusiasm for Dogecoin, suggesting a potential for increased market volatility as futures expiration approaches.</p>
<ul>
 <li>Musk’s D.O.G.E initiative may lead to greater demand for Dogecoin.</li>
 <li>Trump’s electoral success could serve as a key driver for price increases.</li>
 <li>Increased volatility is expected as futures contracts near expiration.</li>
</ul>
<p style="text-align: justify">Market watchers predict that should Trump secure victory in the upcoming election and Musk’s D.O.G.E. department becomes a reality, Dogecoin prices could see significant growth. A notable social media account, @theunipcs, has suggested a potential “parabolic rise” in <a href="https://en.bitcoinhaber.net/analysts-predict-sharp-swings-for-dogecoin-as-interest-rises" data-wpel-link="internal" rel="noopener noreferrer nofollow">DOGE</a>‘s price, indicating that Trump’s success might trigger substantial trading opportunities in the subsequent period.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/trump-and-musk-boost-dogecoin-prices" data-wpel-link="internal" rel="noopener noreferrer nofollow">Trump and Musk Boost Dogecoin Prices</a></h5>

Trump and Musk Boost Dogecoin Prices

Table of Contents

BH NEWS

Other articles published on Oct 29, 2024

Polkadot News: Online Casino Becomes The Future of Digital Assets Taking on Aptos & Polkadot!

Fetch.ai Integrates with CUDOS Network

SEC Challenges Court's XRP Ruling in Formal Appeal

Hong Kong Stock Exchange to Launch Unified Bitcoin and Ethereum Index

Michael Saylor's Legacy: Donating His Bitcoin Wealth to Humanity, Inspired by Satoshi Nakamoto

Buterin’s ‘The Splurge’ Aims to Fortify Ethereum Against Future Quantum Threats

Join our free newsletter for daily crypto updates!