Dogecoin Open Interest Plunges 58%: How Do Shiba Inu & Pepe Compare?
Summary
Dogecoin's Open Interest has dropped significantly from $3.5 billion in December to $1.49 billion, a decline of approximately 58.4%. Other memecoins, including Pepe, Bonk, and dogwifhat, have experienced even steeper declines, exceeding 69%. Shiba Inu and Floki have also seen reductions of 74% and 69%, respectively. In contrast, major cryptocurrencies like Bitcoin, Ethereum, and Solana have recorded smaller decreases in Open Interest, at 11%, 23%, and 6%, respectively. Overall, the memecoin market has faced a combined drop of 52% in Open Interest. Dogecoin's price has remained stable around $0.25 in recent weeks.
