Dogecoin Demand Slumps—Nearly 70% Drop In Open Interest Raises Concerns
Investor enthusiasm for Dogecoin is sharply declining. Over 67% of the open interest on the meme coin has decreased in three months. December 2024 saw it at $4.07 billion. By February 2025 it had dropped to $1.33 billion. This significant decline suggests mounting market caution. Many traders are retreating because of uncertainties in the broader crypto market. Related Reading: Avalanche (AVAX) Overextended—Is A Market Shakeup Imminent? Notable Drop In Dogecoin Open Interest Open interest measures the active contracts on futures and option exchanges. Usually, a declining figure indicates....
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Data shows the Dogecoin Open Interest has seen a large drop recently. Here’s how the trend has compared for Shiba Inu and other memecoins. Dogecoin Has Witnessed A Decline In Open Interest Recently In a new post on X, the analytics firm Glassnode has discussed about the latest trend in the Open Interest for the various memecoins in the cryptocurrency sector. The “Open Interest” here refers to an indicator that keeps track of the total amount of positions related to a given asset currently open on all derivatives exchanges. Related Reading: Bitcoin RHODL Momentum Slowing....
According to a new technical analysis by DD Trading On X (former Twitter), Dogecoin (DOGE) has just moved into a key demand zone after experiencing a steep 10% drop from former highs. The analyst suggests that the meme coin is poised for a short-term recovery to new levels if the daily price low holds. Dogecoin […]
Bitcoin has recorded significant losses in just the first week of December. The digital asset has taken some of the largest hits for the year in just last week alone following liquidations over the weekend. This has expectedly had a huge impact on the amount of open interest in bitcoin. Following the dump, BTC denominated open interest took a nosedive. The dip in open interest was significant enough to near-record levels for 2021. With bitcoin losing more than $10,000 in value, open interest had declined rapidly. This is worrying given that open interest had dropped not too long ago and....
Crypto analyst Ali Martinez has revealed a bearish on-chain metric for Dogecoin, sparking a negative outlook for the foremost meme coin. Based on this, DOGE could be at risk of suffering further price declines. Dogecoin’s Activity Levels Crash To 4-Month Lows In an X post, Martinez revealed that Dogecoin’s network activity has dropped to its lowest level since October 2024, with just 66 whale transactions and fewer than 60,000 active addresses daily. Bitcoinist had also recently reported that DOGE’s large transactions had dropped by 88% since the end of last year. Related Reading:....
A fresh snapshot of Binance’s futures market data shows Dogecoin attracting a remarkably bullish stance among traders. According to a chart shared by Ali Martinez (@ali_charts) on X, 72.13% of Binance users with open Dogecoin positions are currently long, leaving only 27.87% on the short side. “72.13% of traders on Binance with open Dogecoin DOGE positions are currently long!” Martinez wrote, underscoring just how skewed sentiment is toward an upward price move. What Does This Mean For Dogecoin Price? What does such a strong majority of longs actually mean for Dogecoin’s outlook? In many....