Dogecoin Traders Take Risky Bets as DOGE Rallies on Moon Mission Plan
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Trading interest in DOGE bets rose over 40% in the past 24 hours to reach the most since April.
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An increase in leveraged bets came after a 12% surge on Thursday as one company said it planned to send a physical Dogecoin token to the moon.
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A key metric of dogecoin (DOGE) futures jumped about 40% in the past 24 hours, an indication of higher risk-taking behaviors among traders.
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Open interest, or the number of unsettled futures bets, spiked to more than 7 billion DOGE tokens on Friday, reaching levels previously seen in April.
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The increase in DOGE open interest is an outlier to the general market, as futures tracking major tokens saw a 5% drop.