DOGE traders deposit $1.2B as Macron challenges Musk
Dogecoin falls 3% from last week's high at $0.40 on Tuesday.
Emmanuel Macron accused Elon Musk of interference before German Parliamentary elections.
DOGE spot traders are apprehensive due to Musk's memecoin impact.
In the previous 24 hours, futures traders established $1.2 billion in fresh bets, pushing DOGE open interest beyond $4 billion.
Dogecoin consolidates below $0.40 on Tuesday after France's President Emmanuel Macron addressed Elon Musk election tampering charges on Monday.
France President files accusations against Elon Musk as Dogecoin pauses at $0.40 amid bitcoin rise.
On Tuesday, Emmanuel Macron's charges against Elon Musk keep Dogecoin below $0.40.
The French President accused Musk of influencing German elections with X.
Over the last three days, the DOGE price has held inside the $0.35–$0.40 tight zone, indicating trader reluctance.
In the future sessions, DOGE traders may respond knee-jerk due to Musk's previous impact.
In anticipation of market volatility, DOGE traders deposit $1.2B.
Macron's Musk charges have garnered media attention, but speculative traders are preparing for market instability.
Markets data reveals DOGE traders created a lot of new positions within 24 hours of the announcement.
Dogecoin open interest rose from $2.89 billion on Sunday to $4.07 on Tuesday.
This reveals that DOGE traders opened $1.18 billion in fresh positions within 24 hours of Macron's Musk claim.
More so, if Elon Musk successfully contradicts Macron's claims and changes the narrative, DOGE traders may become optimistic.
BTC surging over $100,000 might boost market confidence and drive it beyond $0.40.
Speculators predict a $0.50 breakout for DOGE, which climbed 28% in the first five days of 2025 but has yet to breach over $0.40.
After Macron accused Musk, DOGE traders heaped $1.18 billion inflows, signaling hope for a $0.50 breakout.
If these circumstances hold, a persistent DOGE price close over $0.41 might lead to $0.50.
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