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Dogecoin pumps 27% as DOGE open interest tops record 5.5 billion USD

Dogecoin’s price has surged by 27% within a week, reaching nearly 0.418 USD. This notable increase positions DOGE as the seventh-largest cryptocurrency by market capitalization, reflecting a growing trend in meme coin interest.

Open interest for Dogecoin’s futures contracts has hit a record high of 5.5 billion USD, driven by traders betting on its future price movements. Influential figures like Elon Musk have helped bolster its popularity, particularly as Trump’s inauguration approaches.

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