### Dogecoin (DOGE) Holdings Surge, Market Discusses Trump and Musk's "D.O.G.E." Plan

Hey, blockchain enthusiasts! Today we’re talking about the latest developments regarding Dogecoin (DOGE). According to BlockBeats, on October 29, CoinDesk reported that the open interest of DOGE's USD-denominated contracts soared from $850 million to $1.3 billion. This spike is quite astonishing! As of this Tuesday, the open interest for coin-denominated contracts has risen 33% since Sunday, reaching 8 billion DOGE, just 12% away from the record high of 9 billion DOGE in open contracts.

So, what’s behind this surge? Traders attribute this trend to Trump’s rising approval ratings and his potential establishment of the "Department of Government Efficiency" (abbreviated as "D.O.G.E."). That’s right, you read it correctly, "D.O.G.E."! Previously, former US President and Republican presidential candidate Trump announced that he would establish the Department of Government Efficiency, and Elon Musk has agreed to lead this committee. This news has undoubtedly intensified the market's bullish sentiment towards Dogecoin.

Since April, trader interest in Dogecoin (DOGE) futures has rapidly increased, nearing historical highs. According to CoinGecko data, after Elon Musk appeared at a Trump rally and posted with a DOGE avatar on X, the price of DOGE surged 15% in the past 24 hours. This move has certainly caught attention, highlighting the significant impact of the collaboration between Musk and Trump.

Of course, amidst such market dynamics, we must remain calm and rational. While the holdings and price of Dogecoin are soaring, market volatility still exists. Investors must be cautious in their pursuit of trends and pay attention to risk management to avoid blindly following the crowd.

So, dear readers, what do you think about this rise in Dogecoin? How significant do you believe the impact of Trump and Musk's "D.O.G.E." plan will be on the market? We welcome everyone to actively share your thoughts in the comments section and discuss this intriguing topic together! 😄

In short, regardless of how the market changes, maintaining rationality and calmness is our most important principle in investing. We hope everyone can find their investment path in this market full of opportunities and challenges. Looking forward to your insightful comments!

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This news flash not only brings the latest market dynamics to everyone but also encourages interaction in the comments section. We hope you enjoy this light and lively style and look forward to your enthusiastic participation!