Dogecoin (CRYPTO: DOGE) is trading higher overnight Sunday after Elon Musk launched his new political party.
What Happened: The dog-themed memecoin spiked over 6% in the last 24 hours, with trading volume exploding 179% to $1.19 billion.
DOGE’s open interest lifted over 8%, according to Coinglass, indicating high speculative interest for the cryptocurrency.
Additionally, large transactions valued at over $100,000 jumped 41% in the last 24 …