#Dogecoin futures hit record high#

The Dogecoin futures market recently hit a new record, with open interest surging from 7.5 billion DOGE over the weekend to 103.5 billion DOGE, surpassing the 100 billion DOGE peak reached on March 10, 2024. This indicates growing market interest in Dogecoin, potentially signaling new money entering the market and potentially driving price increases. Analysts predict Dogecoin prices to reach $0.50 in the coming weeks, citing bullish indicators such as Dogecoin's price rebound above the 50-day moving average and the 10-day moving average rising again. Some even predict Dogecoin to reach $1 in 2025, which would give it a market cap of $100 billion. Dogecoin's recent surge is largely driven by bullish sentiment fueled by Elon Musk's support for the meme, who launched a plan to create a "Department of Government Efficiency" (DOGE) to improve government spending efficiency.