Dogecoin Open Interest Up Despite Price Pullback, Data Shows
Dogecoin Futures Open Interest has increased by nearly 64% over the past week, rising from $989 million to $1.62 billion. This metric tracks the total open futures positions for Dogecoin on centralized derivatives exchanges. An increase indicates that investors are opening more positions, which can lead to greater price volatility. Despite a recent price pullback for Dogecoin, the Futures Open Interest continues to rise, suggesting persistent speculative activity. The increase in Dogecoin's Open Interest coincided with a recovery rally, while XRP also experienced a 41.6% rise in Futures Open Interest during the same period, from $2.4 billion to $3.4 billion. Dogecoin is currently trading at approximately $0.236, reflecting a 42% increase over the past week.
