DOGE futures interest is nearing record levels, thanks to increasing confidence of Donald Trump winning next week’s presidential election. Traders view DOGE as an election play thanks to Elon Musk’s endorsement of the Republican candidate, and by extension the possibility of Musk running a “Department of Government Efficiency,” abbreviated as D.O.G.E. DOGE-denominated futures have risen 33% since Sunday to 8 billion tokens as of European morning hours Tuesday. “Elon is memeing the idea of a ‘Department of Government Efficiency’ into reality and is able to tie it to DOGE somehow,” influential X account @theunipcs told CoinDesk. A Trump victory next week would bring “an even more parabolic move in dogecoin,” @theunipcs added.
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