Dogecoin Open Interest Reaches $3.73 Billion After Grayscale ETF Filing
Dogecoin (DOGE) reached $0.24 on August 17, marking its third consecutive day of gains. This rally coincides with Grayscale's S-1 registration filing for a spot Dogecoin ETF with the SEC on August 15.
The proposed ETF adds to other institutional applications under SEC review, including those from Bitwise and REX-Osprey, as well as multiple meme-coin ETF proposals like TRUMP, BONK, and Pudgy Penguins, indicating growing institutional interest in the memecoin sector.
Grayscale's filing follows the SEC's delay of rulings on several Solana ETF proposals until October, suggesting confidence in potential approval despite recent delays.
Key market data includes:
- DOGE open interest increased by 7.3% to $3.73 billion, reflecting new capital inflows of $272 million.
- Short traders experienced losses of $2.80 million within 24 hours, compared to $711,000 in long liquidations.
Technical analysis indicates critical resistance at $0.24. Sustained closes above this level are needed to target the $0.27 mark last seen in mid-July. Support is strong at $0.22, with potential retests of $0.20 if breached. The RSI stands at 57.8, suggesting room for upward movement toward the psychological resistance of $0.25.
Dogecoin Derivatives Market Data | Coinglass, Aug 17, 2025
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