Dogecoin Futures Open Interest Rises 64% Amid Price Pullback
Dogecoin Futures Open Interest has risen significantly, indicating increased speculative activity despite recent price pullbacks.
Key Facts
- Open Interest for Dogecoin rose by nearly 64% in the past week, from $989 million to $1.62 billion.
- This surge suggests that investors are actively opening new positions in the futures market.
- Increased open interest often leads to greater volatility in asset prices.
- Despite a cooling rally and minor price declines, open interest continues to rise, indicating persistent speculative positioning.
- During the same period, XRP's Futures Open Interest increased by 41.6%, from $2.4 billion to $3.4 billion, correlating with its price rise from $2.14 to $2.48.
DOGE Price
Currently, Dogecoin trades at approximately $0.236, reflecting over a 42% increase in the last week.
