PANews reported on October 29 that according to CoinDesk, due to Trump's rising approval rating, Dogecoin (DOGE) futures positions surged to $1.3 billion, and DOGE prices rose 15% in 24 hours. The open interest of DOGE futures has increased by 33% since Sunday to 8 billion tokens, close to the historical high set in April.
This round of rise is due to the close interaction between Elon Musk and Trump. The two discussed the establishment of the "Department of Government Efficiency" (DOGE) to optimize government spending. Trump promised that if he is re-elected, he will invite Musk to join the Government Efficiency Committee. This idea has triggered the market's optimistic expectations for DOGE. Investors believe that if Trump wins the election, the price of DOGE may rise further.
